The German Historical School and European Economic Thought

272 Pages·2015·1.461 MB·English

by  Jose Luis Cardoso (editor), Michalis Psalidopoulos (editor)

The German Historical School
and European Economic Thought
The fi nancial crisis of 2008 has revived interest in economic scholarship from
a historical perspective. The most in-depth studies of the relationship between
economics and history can be found in the work of the so-called German His-
torical School (GHS). The infl uence of the GHS in the US and Britain has been
well documented, but far less has been written on the rest of Europe.
This volume studies the interconnection between economic thought and eco-
nomic policy from the mid-nineteenth century to the interwar period. It examines
how the school’s ideas spread and were interpreted in different European countries
between 1850 and 1930, analyzing its legacies in these countries. In doing so,
the book is able to trace the interconnection between economic thought and
economic policy, adding new voices to the debate on the diffusion of ideas and
fl ow of knowledge. This book identifi es issues related to topics such as national-
ism and cosmopolitanism in the history of ideas and clarifi es themes in policy
making that are still currently debated. These include monetary policy and benefi ts
of free trade for all parties involved in international exchanges.
This book will be of great interest to those who study history of economic
thought, economic theory and political economy.
José Luís Cardoso is a research professor at the Institute of Social Sciences,
University of Lisbon, Portugal.
Michalis Psalidopoulos is a professor at the Department of Economics, Uni-
versity of Athens, and chairman of the Board and scientifi c director of the Centre
for Planning and Economic Research, Athens, Greece.
Routledge Studies in the History of Economics
For a complete list of titles in this series, please visit www.routledge.com.
148 The Theory of Value and 155 Interdisciplinary Economics
Distribution in Economics K enneth E. Boulding’s
D iscussions between Pierangelo engagement in the sciences
Garegnani and Paul Samuelson Edited by Wilfred Dolfsma and
Edited by Heinz Kurz Stefan Kestin
1 49 An Economic History of 1 56 Keynes and Friedman on
Ireland Since Independence Laissez-Faire and Planning
Andy Bielenberg ‘ Where to draw the line?’
Sylvie Rivot
1 50 Reinterpreting the Keynesian
Revolution 1 57 Economic Justice and
Robert Cord Liberty
T he social philosophy in
1 51 Money and Banking in John Stuart Mill’s
Jean-Baptiste Say’s utilitarianism
Economic Thought Huei-chun Su
Gilles Jacoud
158 German Utility Theory
152 Jean-Baptiste Say A nalysis and translations
Revolutionary, entrepreneur, John Chipman
economist
Evert Schoorl 1 59 A Re-Assessment of
Aristotle’s Economic
1 53 Essays on Classical and Thought
Marxian Political Economy Ricardo Crespo
Samuel Hollander
1 60 The Varieties of Economic
1 54 Marxist Political Economy Rationality
E ssays in retrieval: selected F rom Adam Smith to
works of Geoff Pilling contemporary behavioural
Geoff Pilling; Edited by Doria and evolutionary economics
Pilling Michel S. Zouboulakis
1 61 Economic Development and 1 69 Real Business Cycle
Global Crisis Models in Economics
T he Latin American economy Warren Young
in historical perspective
Edited by José Luís Cardoso, 1 70 Hayek and Popper
Maria Cristina Marcuzzo and O n rationality, economism,
María Eugenia Romero and democracy
Mark Amadeus Notturno
1 62 The History of Ancient
Chinese Economic Thought 1 71 The Political and Economic
Edited by Cheng Lin, Terry Thought of the Young
Peach and Wang Fang Keynes
L iberalism, markets and
1 63 A History of Economic empire
Science in Japan Carlo Cristiano
T he internationalization of
economics in the twentieth 1 72 Richard Cantillon’s Essay
century on the Nature of Trade
Aiko Ikeo in General
A Variorum Edition
164 The Paretian Tradition B y Richard Cantillon
during the Interwar Period Edited by Richard van
F rom dynamics to growth den Berg
Mario Pomini
1 73 Value and Prices in Russian
165 Keynes and his Contemporaries Economic Thought
T radition and enterprise in the A journey inside the
Cambridge School of Economics Russian synthesis,
Atsushi Komine 1890–1920
François Allisson
1 66 Utilitarianism and Malthus’
Virtue Ethics 1 74 Economics and Capitalism
R espectable, virtuous and happy in the Ottoman Empire
Sergio Cremaschi Deniz T. Kilinçoğlu
167 Revisiting Classical 1 75 The Idea of History in
Economics Constructing Economics
S tudies in long-period analysis Michael H. Turk
Heinz Kurz and Neri Salvadori
1 76 The German Historical
168 The Development of School and European
Economics in Japan Economic Thought
F rom the inter-war period to Edited by José Luís
the 2000s Cardoso and Michalis
Edited by Toichiro Asada Psalidopoulos
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The German Historical
School and European
Economic Thought
Edited by
José Luís Cardoso and
Michalis Psalidopoulos
F irst published 2016
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
by Routledge
7 11 Third Avenue, New York, NY 10017
Routledge is an imprint of the Taylor & Francis Group,
an informa business
© 2016 selection and editorial material, José Luís Cardoso and
Michalis Psalidopoulos; individual chapters, the contributors
T he right of the editors to be identifi ed as the authors of the editorial
material, and of the authors for their individual chapters, has been
asserted in accordance with sections 77 and 78 of the Copyright,
Designs and Patents Act 1988.
A ll rights reserved. No part of this book may be reprinted or
reproduced or utilised in any form or by any electronic, mechanical, or
other means, now known or hereafter invented, including
photocopying and recording, or in any information storage or retrieval
system, without permission in writing from the publishers.
Trademark notice: Product or corporate names may be trademarks or
registered trademarks, and are used only for identifi cation and
explanation without intent to infringe.
British Library Cataloguing in Publication Data
A catalogue record for this book is available from the British Library.
Library of Congress Cataloging-in-Publication Data
T he German historical school and European economic thought /
edited by José Luís Cardoso and Michalis Psalidopoulos.
pages cm
1. Historical school of economics. 2. Economics—Europe—
History. I. Cardoso, José Luís, editor. II. Psalidopoulos,
M. (Michales), editor.
HB97.G475 2015
330.15′42—dc23
2015022106
I SBN: 978-1-138-94050-5 (hbk)
I SBN: 978-1-315-67431-5 (ebk)
T ypeset in Times New Roman
b y Apex CoVantage, LLC
Contents
L ist of contributors ix
Introduction xiv
JOSÉ LUÍS CARDOSO AND MICHALIS PSALIDOPOULOS
1 The impact of the German Historical School on
the evolution of economic thought in Austria 1
GÜNTHER CHALOUPEK
2 The reception of the German Historical Schools among
French economists (1857–1900) 22
JEAN-PIERRE POTIER
3 Economics, statistics and history: The legacy of the
German Historical School in Belgium 42
GUIDO ERREYGERS AND MAARTEN VAN DIJCK
4 On the surface things seemed quiet: The reception
of the German Historical School in the Netherlands 59
BERT TIEBEN AND EVERT SCHOORL
5 The German Historical School of economics in the Italian
debate (1870–1890) 80
VITANTONIO GIOIA
6 The German Historical School in Spain: From the fringes
to mainstream (1870–1936) 97
J ESÚS ASTIGARRAGA AND JUAN ZABALZA
7 The infl uence of the German Historical School in Portugal 115
ANTÓNIO ALMODOVAR AND JOSÉ LUÍS CARDOSO
viii Contents
8 The legacy of the German Historical School
in Greek economic thought and policy 132
MICHALIS PSALIDOPOULOS AND YORGOS STASSINOPOULOS
9 A hundred years of German connection in Turkish economic
thought: Historismus and otherwise 149
EYÜP ÖZVEREN
1 0 Sweden and the historical school: Eight scholars
going to Germany, 1874–1908 167
BENNY CARLSON
11 The infl uence of the German Historical School
on economic theory and economic thought in Russia 185
V LADIMIR AVTONOMOV AND GEORGY GLOVELI
1 2 The evolution of the German Historical School in
Bulgaria (1878–1944) 204
NIKOLAY NENOVSKY AND PENCHO D. PENCHEV
Concluding remarks 223
HARALD HAGEMANN
Name index 237
Contributors
António Almodovar is a full professor at the Faculdade de Economia, Univer-
sidade do Porto, and head of Cef.up, a research unit on economics and fi nance.
Recent publications include a chapter for the O xford Handbook of Christianity
and Economics (edited by Paul Oslington) and a forthcoming paper in the
European Journal for the History of Economic Thought on political economy
and the modern view as refl ected in the history of economic thought.
Jesús Astigarraga is a full professor at the Department of Structure and Eco-
nomic History of the University of Zaragoza. His research interest has
focused on the history of Spanish and European economic thought, with
particular emphasis on the eighteenth century. He is author of a wide number
of articles in the leading journals of the history of economic thought and
modern history as well as author of monographs, among which are L uces
y republicanismo: Economía y Política en las “Apuntaciones a Genovesi”
de Ramón de Salas (Centro de Estudios Constitucionales, 2011), L’Économie
Politique et la sphère publique dans le débat des Lumières (Collection de
la Casa de Velázquez, 2013) or T he Spanish Enlightenment Revisited (Vol-
taire Foundation, 2015).
Vladimir Avtonomov is a professor and scientifi c supervisor of the Faculty of
Economic Sciences (National Research University Higher School of Econom-
ics in Moscow) and a section head of the Institute of World Economy and
International Relations of the Russian Academy of Sciences. He is a corre-
sponding member of the Russian Academy of Sciences. His research interests
include problems of economic methodology, such as models of man and the
role of abstraction in economic science, and the history of Western and Rus-
sian economics. He translated and edited Russian editions of many classical
works, including Schumpeter’s T heory of Economic Development , Capitalism,
Socialism, and Democracy , History of Economic Analysis and T en Great
Economists, and works of Eucken, Blaug and others. He is the editor of one
of the best-known Russian textbooks on the history of economic thought, the
periodic almanac “Istoki” (The Sources), devoted to economic history and
the history and methodology of economics.