19th Century Economic Thought: Historical School and Early Socialism
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In the 19th century, reaction movements began to emerge against the foundations of the classical school of economics. The Historical School developed in Germany between 1834 and 1883, extending its influence across Europe and the USA.
Branches of the Historical School
Within this school, two distinct currents are usually identified: the "Old Historical School" and the "Modern Historical School." Some of the common features shared by both currents include:
- The defense of the historical inductive method.
- The view of the State as a driver of development, proposing its intervention in favor of the weakest members of society.
Key Representatives of the Historical School
The Old Historical School
The principal representatives of the "Old Historical School"... Continue reading "19th Century Economic Thought: Historical School and Early Socialism" »