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Socialists Of The Chair
The historical school of economics was an approach to academic economics and to public administration that emerged in the 19th century in Germany, and held sway there until well into the 20th century. The professors involved compiled massive economic histories of Germany and Europe. Numerous Americans were their students. The school was opposed by theoretical economists. Prominent leaders included Gustav von Schmoller (1838–1917), and Max Weber (1864–1920) in Germany, and Joseph Schumpeter (1883–1950) in Austria and the United States. Tenets The historical school held that history was the key source of knowledge about human actions and economic matters, since economics was culture-specific, and hence not generalizable over space and time. The school rejected the universal validity of economic theorems. They saw economics as resulting from careful empirical and historical analysis instead of from logic and mathematics. The school also preferred reality, historical, politi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Methodology
Economic methodology is the study of methods, especially the scientific method, in relation to economics, including principles underlying economic reasoning. In contemporary English, 'methodology' may reference theoretical or systematic aspects of a method (or several methods). Philosophy and economics also takes up methodology at the intersection of the two subjects. Scope General methodological issues include similarities and contrasts to the natural sciences and to other social sciences and, in particular, to: * the definition of economics * the scope of economics as defined by its methods * fundamental principles and operational significance of economic theory * methodological individualism versus holism in economics * the role of simplifying assumptions such as rational choice and profit maximizing in explaining or predicting phenomena * descriptive/positive, prescriptive/normative, and applied uses of theory * the scientific status and expanding domain of economic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |