The science of progress : the rise of historical economics and social reform in Germany, 1864-1894
This thesis reassess the so-called 'Historical School of Economics' of Gustav Schmoller and his colleagues Lujo Brentano, Adolf Held and Georg Friedrich Knapp, analysing the close relationship between the development of historical economics and the rise of social reform in Germany. It reveals that there is little evidence for a cohesive 'Historical School' and suggests that it was not primarily an outgrowth of romantic and historicist currents of thought as is commonly believed. Schmoller and his colleagues were a pragmatic, empirically-inclined group of statistically-trained economists who drew inspiration from the advances made in the natural sciences. Having directly observed the effects of rapid urbanisation, industrialisation, and the rise of labour movements and socialism in Prussia and abroad, they became dissatisfied with classical economic doctrines and laissez-faire, subjecting these to empirical tests and criticism. Drawing inspiration from British reforms and developments throughout Europe, they devised alternative hypotheses and made innovative policy recommendations. They were also important professionalisers of economics, modifying the curriculum, organising professional bodies, and creating
Grimmer-Solem, Erik
Historical school of economics ; Economics ; History ; Economists ; Public welfare ; Social policy ; Germany ; 19th century
The science of progress : the rise of historical economics and social reform in Germany, 1864-1894. This thesis reassess the so-called 'Historical School of Economics' of Gustav Schmoller and his colleagues Lujo Brentano, Adolf Held and Georg Friedrich Knapp, analysing the close relationship between the development of historical economics and the rise of social reform in Germany. It reveals that there is little evidence for a cohesive 'Historical School' and suggests that it was not primarily an outgrowth of romantic and historicist currents of thought as is commonly believed. Schmoller and his colleagues were a pragmatic, empirically-inclined group of statistically-trained economists who drew inspiration from the advances made in the natural sciences. Having directly observed the effects of rapid urbanisation, industrialisation, and the rise of labour movements and socialism in Prussia and abroad, they became dissatisfied with classical economic doctrines and laissez-faire, subjecting these to empirical tests and criticism. Drawing inspiration from British reforms and developments throughout Europe, they devised alternative hypotheses and made innovative policy recommendations. They were also important professionalisers of economics, modifying the curriculum, organising professional bodies, and creating
science progress rise historical economics social_reform germany reassess so_called historical school economics colleague held analyse close_relationship development historical economics rise social_reform germany reveals little_evidence cohesive historical school suggests primarily romantic historicist current_think commonly believe colleague pragmatic empirically inclined group statistically trained economist draw inspiration advance_make natural_science directly observe effect rapid urbanisation industrialisation rise labour_movement socialism prussia abroad become classical economic doctrine faire subject empirical test criticism drawing inspiration british reform development throughout_europe devise alternative hypothesis make innovative policy recommendation also_important economics modify curriculum organise professional body create