In 1988, German‐speaking economists plan to celebrate the 150th anniversary of Gustav von Schmoller. Yet, in contemporary America, Schmoller is hardly known. His work is almost…
Abstract
In 1988, German‐speaking economists plan to celebrate the 150th anniversary of Gustav von Schmoller. Yet, in contemporary America, Schmoller is hardly known. His work is almost completely locked up in the German language, save for his The Mercantile System and its Historical Significance, published in 1888 and his essay on “The Idea of Justice in Political Economy”. Furthermore, because he was not an econometrician or a mathematical economist, nobody has much use for Schmoller today anyway.
Describes briefly the personal histories and important professionalassociation of Gustav Schmoller and Friedrich Althoff emphasizing theirinnovatory period 1870‐1882 at Strasburg.
Abstract
Describes briefly the personal histories and important professional association of Gustav Schmoller and Friedrich Althoff emphasizing their innovatory period 1870‐1882 at Strasburg.
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Latvia, a small country on the Baltic Sea, became independent in 1918, but was occupied by the Soviet Union in 1940. Like its neighbours, Estonia and Lithuania, Latvia has a…
Abstract
Latvia, a small country on the Baltic Sea, became independent in 1918, but was occupied by the Soviet Union in 1940. Like its neighbours, Estonia and Lithuania, Latvia has a skewed resource pattern, small domestic market, and an export concentration into commodities. Prior to the Soviet occupation, these three countries never managed to form an economic union to overcome the disadvantages of the small size of the domestic markets in the era of assembly line technology. They practiced “Alleingang” in economic and political matters. After gaining independence in 1991, the Baltic countries learned nothing from the past and have continued practicing “Alleingang” in the age of “high tech”.
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I first met Professor Rugina in 1974 at the annual meeting of the History of Economics Society in Cambridge, Massachusetts. On that occasion, he proposed that one session of…
Abstract
I first met Professor Rugina in 1974 at the annual meeting of the History of Economics Society in Cambridge, Massachusetts. On that occasion, he proposed that one session of future meetings be devoted to the problem of values and value‐judgements in economics. I supported that proposition, and a lasting friendship was struck.
Schumpeter is popular these days among the economic policy makers and politicians in Washington, DC. In “high tech” America, Schumpeter’s felicitous phrase “creative destruction”…
Abstract
Schumpeter is popular these days among the economic policy makers and politicians in Washington, DC. In “high tech” America, Schumpeter’s felicitous phrase “creative destruction” is on many lips. The recent meltdown of numerous dot.com firms on the NASDAQ exchange has taught formerly optimistic baby boomers how hard the “creative destruction” process can hit their pocketbooks and wipe out their accumulations of “shareholders value.” Yet for many, “creative destruction” is still the guidepost to a better and more prosperous future.
Investigates the importance of English language sources ofFriedrich Theodor Althoff (1839‐1908), a German of great influence bothin his own country and, indirectly, in the United…
Abstract
Investigates the importance of English language sources of Friedrich Theodor Althoff (1839‐1908), a German of great influence both in his own country and, indirectly, in the United States. Explores some measures of his influence in education and international understanding. Examines a wide variety of sources. Explains how it could happen that an influential person would end up in intellectual history with almost no recognition. Challenges several conventional assessments. Althoff′s most important contributions are in print and more almost certainly exist in university archives, but the material is scattered and unorganized. Because we do not yet have the full story of this remarkable and complex man, firm conclusions about his influence are not yet possible.
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This paper is an attempt to sketch the influence of the German Historical School on the development of Russian economic thought at the boundary of the nineteenth and twentieth…
Abstract
Purpose
This paper is an attempt to sketch the influence of the German Historical School on the development of Russian economic thought at the boundary of the nineteenth and twentieth centuries and, particularly, on the forming of its socio‐ethical trend with an alternative approach in solving the “social question”.
Design/methodology/approach
The paper is designed as a brief outlook of the history of the Russian economic thought at the pre‐revolutionary time and of the main theoretical debates on the paths of Russia's economic development.
Findings
It can be seen that at the turn of the century a new socio‐ethical trend of political economy in the Russian economic science was being shaped under the influence of the German Historical School's ideas and their creative re‐evaluation. Representatives of this trend – Bulgakov, Miklashevsky, Tugan‐Baranovsky and others – addressed the problems of “social ideal”, “social policy” and ethical principle in political economy. They were promoting the social reforms as the path to social compromise.
Originality/value
The reconstructuring of Russia's political and economic system in the last decade of the twentieth century and transition to a market‐oriented economy gave rise to a modern wave of debates over the fundamentals of economic theory. The present paper focuses on the importance of the humanistic approach in the theory of social economy that involves historical, philosophical, legal and others points of view on the economic life of society.
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Austrian economics and entrepreneurial studies have both expanded greatly in the last 20 or 30 years. Unfortunately, they have developed more or less independently of each other…
Abstract
Austrian economics and entrepreneurial studies have both expanded greatly in the last 20 or 30 years. Unfortunately, they have developed more or less independently of each other. Austrian economics has enjoyed a revival since 1973 or 1974. In 1973 Israel Kirzner published his classic book, Competition and Entrepreneurship, which outlined an entrepreneurial theory of the market process. In 1974 F. A. Hayek was awarded the Nobel Memorial Prize in Economics. The same year saw the famous South Royalton conference, which is the traditional origin of the “Austrian revival.” The intellectual history of entrepreneurial studies reaches back at least as far as Richard Cantillon (1755). As an intellectual movement, however, entrepreneurial studies began about the same time as the Austrian revival. The beginnings of the entrepreneurship movement might be dated to sometime before 1978 when Babson College established its Center for Entrepreneurial Studies, the first such center in the U.S. In all this time, however, there has been limited exchange between Austrian economics and entrepreneurial studies. It is high time we expanded trade across the border between Austrian economics and entrepreneurial studies.
The economic and financial picture of the whole world in the early 1980s does not look at all good despite the optimistic rhetoric used by the leaders of the seven major…
Abstract
The economic and financial picture of the whole world in the early 1980s does not look at all good despite the optimistic rhetoric used by the leaders of the seven major industrial democracies during the May 1983 Summit Conference held in Williamsburg, Virginia, USA. Almost everywhere there are artificial monetary injections to produce another problematic boom with the well‐known residual effects, negative social and financial consequences. But beyond there are no visible signs that on this road the prevailing conditions of disequilibrium embedded in contemporary economies will vanish and a new, better international economic and financial order will emerge.