Conclusion
Originally, various associations and journals in the US were founded and organized by economists who were influenced by the GHSE, either by having studied under its theorist in Germany or by training with American economists who returned to the US after completing their education in Germany.
These newly established American economic journals and associations were modeled after the ones that already existed in Germany. For their founders, these associations and journals constituted a protest against the ahistorical value-free science, the laissez-faire doctrine, and the abstract individualistic and mechanical laws that were being promoted by classical economists. Their intention was to provide a platform that would facilitate cooperation, including with members of the Old School, the church, the state, and scientists. Indoing so, they were hoping to give political economy a new direction. They also sought to find remedies to the growing social and economic problems that Americans were facing.
Another goal of the newly established American economic associations, journals, and periodicals was to foster and promote the ideas and scholarly research of the GHSE in the US. Basically, they aimed to encourage creative and independent economic research and the publication of economic monographs, while also providing an environment where fruitful academic and professional discussions could occur among political economists. It has even been suggested that they sought to rectify the backward situation that prevailed within the discipline of economics in the US. Some of these associations and journals ended up becoming very influential, and remain so up to this day; however, their priorities, goals, and roles have changed significantly over time. Unfortunately, contemporary economists are largely unaware of the remarkable contributions that adherents of the New School made to the development of political economy in the US, both as an academic discipline and as a profession, through their efforts to establish inf luential associations, institutions, and journals that were inspired by the GHSE.
Notes
1 https://archives.yale.edu/repositories/12/resources/3709.
2 Cornell University Library. American Association for Labor Legislation Records on Microfilm: Collection Number: 5001 mf. https://rmc.library.cornell.edu/ EAD/htmldocs/KCL05001mf.html.
3 Ibid.