German historical school of economics
- German historical school of economics
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Branch of economic thought, developed chiefly in Germany in the later 19th century, in which the economic situation of a nation is understood as the result of its total historical experience.
Objecting to the deductively reasoned "laws" of
classical economics, exponents of the historical approach examined the development of the entire social order, of which economic motives and decisions were only one component. They viewed government intervention in the economy as a positive and necessary force. Early founders, including Wilhelm Roscher and Bruno Hildebrand, developed the idea of the historical method and sought to identify general stages of economic development through which all countries must pass. Members of the later school, notably Gustav von Schmoller (1813–1917), carried out more detailed historical research and attempted to discover cultural trends through historical inquiry.
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Universalium.
2010.
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economics — /ek euh nom iks, ee keuh /, n. 1. (used with a sing. v.) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. 2. (used with a pl. v.) financial considerations;… … Universalium
historical — historically, adv. historicalness, n. /hi stawr i keuhl, stor /, adj. 1. of, pertaining to, treating, or characteristic of history or past events: historical records; historical research. 2. based on or reconstructed from an event, custom, style … Universalium
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german — /jerr meuhn/, adj. 1. having the same father and mother, as a full brother or sister (usually used in combination): a brother german. 2. born of the brother or sister of one s father or mother, as a first cousin (usually used in combination): a… … Universalium
German — /jerr meuhn/, adj. 1. of or pertaining to Germany, its inhabitants, or their language. n. 2. a native or inhabitant of Germany. 3. a descendant of a native of Germany. 4. Also called High German. an Indo European language that is based on a High… … Universalium
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