100:
research. They rejected the hypothesis of "the profit maximizing individual" or the "calculus of pleasure and pain" as the only basis for economic analysis and policy. They believed that it was more reasonable to base analysis on the collective whole of altruistic individuals. Historical economists
116:
he explanation of the past and the prediction of the future are not different operations, but the same worked in opposite directions, the one from effect to cause, the other from cause to effect. As
Schmoller well says, to obtain "a knowledge of individual causes" we need "induction; the final
88:
The economists of the
English historical school were in general agreement on several ideas. They pursued an inductive approach to economics rather than the deductive approach taken by
101:
of the nineteenth century also rejected the view that economic policy prescriptions, however derived, would apply universally, without regard to place or time, as followers of the
434:
513:
427:
1041:
420:
827:
121:
which is employed in deduction.... Induction and deduction rest on the same tendencies, the same beliefs, the same needs of our reason."
506:
396:
2 vols. (1869); revised edition (1880), pp. xxxiv et seq; on line at
Osmania University, Digital Library of India, Internet Archive.
407:
69:
1051:
945:
499:
480:
77:
915:
343:
386:
372:
980:
36:
in the early 19th century. The school considered itself the intellectual heirs of past figures who had emphasised
651:
142:
73:
21:
197:
provided "allies in the struggle against the dominance of the abstract theory." Historical economists viewed
970:
765:
676:
614:
760:
920:
873:
541:
301:
975:
890:
863:
750:
681:
604:
522:
465:
57:
1046:
895:
883:
460:
53:
900:
817:
755:
536:
1005:
925:
822:
812:
800:
790:
563:
317:
805:
775:
743:
686:
596:
202:
194:
112:
Alfred
Marshall acknowledged the force of the historical school's views in his 1890 synthesis:
93:
412:
930:
878:
853:
661:
641:
1015:
995:
935:
770:
718:
365:
How
Economics Forgot History: The Problem of Historical Specificity in the Social Sciences,
338:
8:
1000:
795:
728:
698:
624:
619:
586:
198:
102:
89:
25:
391:
780:
723:
990:
910:
848:
841:
671:
382:
368:
348:
141:
appear among the influences on the
English historical economists. The second half of
858:
130:
1020:
940:
785:
733:
691:
609:
334:
138:
106:
49:
475:
470:
65:
61:
491:
1035:
950:
905:
868:
656:
546:
352:
178:
174:
134:
41:
33:
631:
576:
455:
182:
146:
666:
581:
206:
97:
836:
738:
571:
45:
37:
985:
162:
118:
29:
1010:
646:
302:
Ashley, William J. 1897. "The Tory Origin of Free Trade Policy,"
205:
as too formal and as a rationalisation of free-trade policies in a
150:
318:
Cliffe Leslie, T. E. 1870. "The
Political Economy of Adam Smith."
186:
158:
154:
442:
394:
An
Inquiry into the Nature and Causes of the Wealth of Nations,
210:
190:
117:
conclusion of which is indeed nothing but the inversion of the
326:
Goldman, Lawrence. 1989. "Entrepreneurs in
Business History",
170:
166:
359:
Geoffrey Martin
Hodgson, "Alfred Marshall and the British
392:
Rogers, Thorold. 1880. "Editor's Preface" to Adam Smith,
28:methods in economics, following the triumph of the
339:"Appendix C: 'The scope and method of economics'"
1033:
330:Vol. 63, No. 1, (Spring, 1989), pp. 223–25.
96:theorists. They recognised the need for careful
521:
230:
228:
226:
507:
428:
381:Durham & London: Duke University Press.
347:(8th ed.). London: MacMillan & Co.
223:
514:
500:
435:
421:
333:
408:"English Historical School", New School
20:, although not nearly as famous as its
1042:English historical school of economics
1034:
195:the historical school of jurisprudence
18:English historical school of economics
677:Marxian critique of political economy
495:
416:
367:pp. 95–112. Routledge (2001)
13:
295:
14:
1063:
401:
981:History of macroeconomic thought
806:Neoclassical–Keynesian synthesis
314:Oxford, Oxford University Press.
379:The Growth of Economic Thought.
377:Spiegel, Henry William (1991).
304:Quarterly Journal of Economics,
322:(London). 14:549–63. On line.
282:
273:
264:
255:
246:
237:
48:. Included in this school are
1:
971:Critique of political economy
306:July 1897. McMaster, on line.
216:
125:
879:Rational expectations theory
328:The Business History Review,
7:
1052:Schools of economic thought
976:History of economic thought
523:Schools of economic thought
466:Thomas Edward Cliffe Leslie
165:) and a transition from a "
83:
58:Thomas Edward Cliffe Leslie
10:
1068:
896:New neoclassical synthesis
884:Real business-cycle theory
312:The Industrial Revolution.
963:
707:
595:
562:
555:
529:
451:
445:English historical school
145:reign saw the triumph of
177:economy to one based on
1006:Post-autistic economics
344:Principles of Economics
40:and induction, such as
744:Modern Monetary Theory
203:neoclassical economics
123:
828:Keynes–Marx synthesis
114:
24:, sought a return of
1016:World-systems theory
996:Mainstream economics
936:Technocracy movement
916:Saltwater/freshwater
310:Ashton, T. S. 1948.
252:Thorold Rogers, 1880
243:Cliffe Leslie, 1870.
1001:Heterodox economics
729:Capability approach
605:American (National)
587:School of Salamanca
637:English historical
443:Economists of the
320:Fortnightly Review
74:William Cunningham
22:German counterpart
1047:Political economy
1029:
1028:
991:Political economy
959:
958:
891:New institutional
864:Neo-Schumpeterian
672:Marxist economics
652:German historical
489:
488:
481:William J. Ashley
1059:
1021:Economic systems
560:
559:
542:Medieval Islamic
516:
509:
502:
493:
492:
437:
430:
423:
414:
413:
356:
335:Marshall, Alfred
289:
286:
280:
277:
271:
268:
262:
259:
253:
250:
244:
241:
235:
232:
149:concepts in the
143:Queen Victoria's
131:John Stuart Mill
1067:
1066:
1062:
1061:
1060:
1058:
1057:
1056:
1032:
1031:
1030:
1025:
955:
941:Thermoeconomics
712:21st centuries)
711:
709:
703:
591:
551:
537:Ancient schools
525:
520:
490:
485:
447:
441:
404:
361:Methodendiskurs
298:
296:Further reading
293:
292:
287:
283:
278:
274:
270:Marshall, 1890.
269:
265:
260:
256:
251:
247:
242:
238:
233:
224:
219:
193:. The rise of
139:Herbert Spencer
128:
86:
50:William Whewell
12:
11:
5:
1065:
1055:
1054:
1049:
1044:
1027:
1026:
1024:
1023:
1018:
1013:
1008:
1003:
998:
993:
988:
983:
978:
973:
967:
965:
961:
960:
957:
956:
954:
953:
948:
943:
938:
933:
928:
923:
918:
913:
908:
903:
901:Organizational
898:
893:
888:
887:
886:
881:
871:
866:
861:
856:
851:
849:Neo-Malthusian
846:
845:
844:
834:
833:
832:
831:
830:
825:
815:
810:
809:
808:
793:
788:
783:
778:
773:
768:
766:Disequilibrium
763:
758:
756:Constitutional
753:
748:
747:
746:
736:
731:
726:
721:
715:
713:
705:
704:
702:
701:
696:
695:
694:
684:
679:
674:
669:
664:
659:
654:
649:
644:
642:French liberal
639:
634:
629:
628:
627:
617:
612:
607:
601:
599:
593:
592:
590:
589:
584:
579:
574:
568:
566:
557:
553:
552:
550:
549:
544:
539:
533:
531:
527:
526:
519:
518:
511:
504:
496:
487:
486:
484:
483:
478:
476:Thorold Rogers
473:
471:Walter Bagehot
468:
463:
458:
452:
449:
448:
440:
439:
432:
425:
417:
411:
410:
403:
402:External links
400:
399:
398:
389:
375:
357:
331:
324:
315:
308:
297:
294:
291:
290:
288:Spiegel, 1991.
281:
272:
263:
261:Goldman (1989)
254:
245:
236:
221:
220:
218:
215:
127:
124:
85:
82:
78:William Ashley
70:Arnold Toynbee
66:Thorold Rogers
62:Walter Bagehot
9:
6:
4:
3:
2:
1064:
1053:
1050:
1048:
1045:
1043:
1040:
1039:
1037:
1022:
1019:
1017:
1014:
1012:
1009:
1007:
1004:
1002:
999:
997:
994:
992:
989:
987:
984:
982:
979:
977:
974:
972:
969:
968:
966:
962:
952:
951:Social credit
949:
947:
944:
942:
939:
937:
934:
932:
929:
927:
926:Structuralist
924:
922:
919:
917:
914:
912:
909:
907:
906:Public choice
904:
902:
899:
897:
894:
892:
889:
885:
882:
880:
877:
876:
875:
874:New classical
872:
870:
869:Neoliberalism
867:
865:
862:
860:
859:Neo-Ricardian
857:
855:
852:
850:
847:
843:
840:
839:
838:
835:
829:
826:
824:
821:
820:
819:
816:
814:
811:
807:
804:
803:
802:
799:
798:
797:
794:
792:
791:Institutional
789:
787:
784:
782:
779:
777:
774:
772:
769:
767:
764:
762:
759:
757:
754:
752:
749:
745:
742:
741:
740:
737:
735:
732:
730:
727:
725:
722:
720:
717:
716:
714:
706:
700:
697:
693:
690:
689:
688:
685:
683:
680:
678:
675:
673:
670:
668:
665:
663:
660:
658:
655:
653:
650:
648:
645:
643:
640:
638:
635:
633:
630:
626:
623:
622:
621:
618:
616:
613:
611:
608:
606:
603:
602:
600:
598:
594:
588:
585:
583:
580:
578:
575:
573:
570:
569:
567:
565:
561:
558:
554:
548:
547:Scholasticism
545:
543:
540:
538:
535:
534:
532:
528:
524:
517:
512:
510:
505:
503:
498:
497:
494:
482:
479:
477:
474:
472:
469:
467:
464:
462:
461:Richard Jones
459:
457:
454:
453:
450:
446:
438:
433:
431:
426:
424:
419:
418:
415:
409:
406:
405:
397:
395:
390:
388:
387:0-8223-0973-4
384:
380:
376:
374:
373:0-415-25716-6
370:
366:
362:
358:
354:
350:
346:
345:
340:
336:
332:
329:
325:
323:
321:
316:
313:
309:
307:
305:
300:
299:
285:
279:Ashton, 1948.
276:
267:
258:
249:
240:
234:Spiegel, 1991
231:
229:
227:
222:
214:
212:
208:
204:
200:
196:
192:
188:
184:
180:
179:communication
176:
175:manufacturing
172:
168:
164:
160:
156:
152:
148:
144:
140:
136:
135:Auguste Comte
132:
122:
120:
113:
110:
109:schools did.
108:
104:
99:
95:
91:
81:
79:
75:
71:
67:
63:
59:
55:
54:Richard Jones
51:
47:
43:
42:Francis Bacon
39:
35:
34:David Ricardo
31:
27:
23:
19:
776:Evolutionary
708:Contemporary
687:Neoclassical
636:
632:Distributist
577:Mercantilism
564:Early modern
456:Edmund Burke
444:
393:
378:
364:
360:
342:
327:
319:
311:
303:
284:
275:
266:
257:
248:
239:
183:urbanisation
147:evolutionary
129:
115:
111:
94:neoclassical
87:
32:approach of
17:
15:
931:Supply-side
854:Neo-Marxian
667:Marginalism
597:Late modern
582:Physiocrats
107:Marshallian
98:statistical
1036:Categories
911:Regulation
837:Monetarism
823:Circuitism
771:Ecological
739:Chartalism
719:Behavioral
662:Manchester
657:Malthusian
615:Birmingham
572:Cameralism
556:Modern era
530:Pre-modern
217:References
126:Influences
46:Adam Smith
38:empiricism
986:Economics
921:Stockholm
796:Keynesian
761:Cracovian
710:(20th and
699:Socialist
682:Mutualism
625:Ricardian
620:Classical
353:219845301
337:(1920) .
213:setting.
199:classical
163:sociology
119:Syllogism
103:Ricardian
90:classical
30:deductive
26:inductive
1011:Degrowth
946:Virginia
786:Freiburg
781:Feminist
734:Carnegie
724:Buddhist
692:Lausanne
647:Georgism
610:Austrian
211:imperial
207:colonial
173:" based
151:sciences
84:Concepts
964:Related
751:Chicago
187:finance
159:biology
155:geology
842:Market
385:
371:
351:
191:empire
189:, and
161:, and
137:, and
76:, and
818:Post-
801:Neo-
383:ISBN
369:ISBN
349:OCLC
209:and
201:and
171:iron
169:and
167:coal
105:and
92:and
44:and
16:The
813:New
363:",
1038::
341:.
225:^
185:,
181:,
157:,
133:,
80:.
72:,
68:,
64:,
60:,
56:,
52:,
515:e
508:t
501:v
436:e
429:t
422:v
355:.
153:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.