In search of full empirical reality: historical political economy, 1870-1900

Erik Grimmer-Solem and Roberto Romani

The European Journal of the History of Economic Thought, 1999, vol. 6, issue 3, 333-364

Abstract: The notion of a 'Historical School' is burdened with numerous vague associations and overlapping uses leaving it wanting as a useful rubric of more specific research. To overcome this state of affairs, the article seeks to define and characterize the specific attributes of a historical political economy which arose in Europe between roughly 1870 and 1900. Authors from four countries are considered: Germany, Britain, France and Italy. We focus specifically on the relaionship and tension between empirical history and economic theory, thereby illustrating the resulting approach to policy. We contend that our characterization provides a useful illustration of the achievements and shortcomings of historical empiricism, inductivism, and pragmatism in economics.

Keywords: Historical school of economics; historical political economy; economic history; economic methodology; social reform; Schmoller (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1080/10427719900000071

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