Contents
1 Introduction 1
2 The German Historical School of Economics and Its Intellectual Sources: Cameralism and the Historical
School ofJurisprudence 9
Introduction 9
A Brief History of Cameralism, Its Features, and Goals 10 Cameralism and the German Historical School of Economics 30 The Historical School of Jurisprudence 33
The Historical School of Jurisprudence and the German Historical School of Economics 39
Conclusion 41
3 An Overview of Fundamental Features of the German
Historical School of Economics 47
Introduction 47
The Main Contributors to the GHSE: From the Older Historical
School to the Youngest Historical School 48
Fundamental Methods, Approaches, Values, and Policies Supported by the GHSE 54
Inductive versus Deductive Approach 54 Methodological Collectivism versus Methodological
Individualism 61
The Laissez-Faire Approach versus National Economy 63
Ethical Economics 70
Ethics and Social and Economic Inequalities 72 The Role of the GHSE in the Development of Mathematical
Economics and Statistical Research 76
Conclusion 79
4 German-Trained American Political Economists and
the Influence of the German Historical School of
Economics 85
Introduction 85
Why Did the GHSE Attract American Students and Scholars? 86 Notable American Economists Who Studied under the Theorists of the GHSE 89
American Economists on the Methods, Values, and Policies of the GHSE 105
Historical Studies 107
The Inductive Approach versus the Deductive Approach 109 The New School on the Laissez-Faire Approach 113 Positive State Action 116
Ethical Values 122 Methodological Individualism 125
The New School on Socialism 128
Conclusion 133
5 The Early Establishment of Political Economy
Departments at American Colleges and Universities 141
Introduction 141
Newly Established Political Economy Departments at American
Universities 142
Teaching in the Newly Established Political Economy Departments of American Universities 157
Courses and Language Requirements at Newly Established Economics Departments 158
The Rise of Statistics in Political Economy 163
The Establishment of PhD Programs based on the German Model 167 The Introduction of the German Seminary Method at
American Political Economy Departments 168 The Establishment of Adequate Libraries 171
Conclusion 173
6 The GHSE and the Establishment of Economic
Associations and Journals in the United States 179
Introduction 179
The Establishment of American Economic Association 179
The American Academy of Political and Social Science 186
The American Political Science Association 188
Newly Established Economic Journals in the US 188 Other Major Contributions of the New School 191 Conclusion 193
7 The New School on the Conservation of the Natural
Environment 197
Introduction 197
The GHSE and the Protection of the Natural Environment 198
The Exploitation of Natural Resources and the Rise of Conservation
Efforts in the US 199
Environmental Protection Measures Proposed by the Adherents of the New School 205
Conclusion 209
8 The Decline and Demise of the German Historical
School of Economics 212
Introduction 212
The Role of the Austrian School of Economics in the Decline of the
GHSE 213
The Battle of Methods 215
The Demise of the GHSE: Two World Wars and the Rise of the
Nazi Regime 220
The Discipline of Economics in the United States in the Aftermath of the Decline of the GHSE 228
The Rise of Mathematical Economics 229
The Demise of Ethical Economics 232
Conclusion 234
Conclusion: The Demise of the New School and the
Abolishment of Freedom and Human Progress via the Coercive Powers of the State and Corporations 239
Index
249
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