Higher arithmetic

Francis Amasa Walker (July 2, 1840 – January 5, 1897) was an American economist, statistician, journalist, educator, academic administrator, and an officer in the Union Army. As a prolific author and the third president of the Massachusetts Institute of Technology (MIT) until his death in 1897, Walker was a leading political economist and advocate for a policy of bimetallism by international agreement. His scholarly contributions are widely recognized as having broadened, liberalized, and modernized economic and statistical theory with contributions to wages, wealth distribution, money, and social economics, and he is credited with developing the residual theory of wage distribution. Walker was born into a prominent Boston family, the son of the economist and politician Amasa Walker, and he graduated from Amherst College at the age of 20. He received a commission to join the 15th Massachusetts Infantry and quickly rose through the ranks as an assistant adjutant general.