Joseph Schumpeter and the German Historical School

Posted: 6 May 2009

See all articles by Panayotis Michaelides

Panayotis Michaelides

National Technical University of Athens (NTUA)

John Milios

National Technical University of Athens (NTUA)

Date Written: May 2009

Abstract

So far Schumpeter's affinities with the German Historical School (GHS) have been inadequately acknowledged or even unexplored in major accounts of Schumpeter's work. This essay argues that Schumpeter formulated some of his principal theses in accordance with the conceptual framework of the GHS. Schumpeter's affinity with the GHS is established by examining his writings and his relationship with major scholars such as Schmoller, Max Weber and Sombart. It is demonstrated that Schumpeter's works built heavily on GHS insights, and he even referred positively to the ideas of certain of its members. However, some obvious differences between Schumpeter and the GHS are observed. The paper concludes that the GHS should inspire further research in evolutionary economics.

Keywords: Schumpeter, German Historical School, Influence, History, Theory

JEL Classification: B15, B25, B31, B52

Suggested Citation

Michaelides, Panayotis and Milios, John, Joseph Schumpeter and the German Historical School (May 2009). Cambridge Journal of Economics, Vol. 33, Issue 3, pp. 495-516, 2009. Available at SSRN: https://ssrn.com/abstract=1397452 or http://dx.doi.org/10.1093/cje/ben052

Panayotis Michaelides (Contact Author)

National Technical University of Athens (NTUA) ( email )

Athens
Greece

John Milios

National Technical University of Athens (NTUA) ( email )

Athens
Greece

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