The Economic history and the economics

Hospodářské dějiny a ekonomie

Jiří Schwarz

Acta Oeconomica Pragensia, 2005, vol. 2005, issue 3, 152-162

Abstract: The author attempts to show areas in which historical research and historical facts affected economic thinking and knowledge in economics. We may meet with a similarity of an historical approach to reality at some schools of economic thinking based on empirical inductive research approach and on historicism in the sense of evolutionary character of economic laws. History in this sense has influenced a methodology of some schools of economic thinking.History has however affected economic thinking of those schools which is abstract deductive approach and ahistoricism typical for. Historical experience has just contributed to the fall of some well-known economic concepts from the theoretical height down and their transition to myths. We may undoubtedly count among them the problem of the so called natural monopoly, government regulation as a tool for consumer protection or as a tool for preservation of competition, dependency theorem of economic growth on development of key industries or on country natural resources provision and many others. Historical facts have served to the formation of truthful economics and historical development is an important test of reality of economic predictions. A difference between political reality and state of knowledge in history and economics does not express a backwardness or an impotence of these sciences.Courses in history and in economic history has become irreplaceable in syllabi of prestigious faculties of economics.

Keywords: methodology; German historical school; economic history; institutional development; economic growth; Chicago school (search for similar items in EconPapers)
Date: 2005
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DOI: 10.18267/j.aop.155

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