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The German Historical School of Economics | [Dr. Nicholas Balabkins]

The German Historical School of Economics

Beginning in the early 1840's, a group of German university professors denounced the abstract theories of classical economists, rejecting theoretical analysis in favor of a historical approach. They believed that theories only express what happens in a simplified world, not in the real world, and that they offer little solution to the pressing social problems of the underprivileged.
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Publisher's Summary

Beginning in the early 1840's, a group of German university professors denounced the abstract theories of classical economists, rejecting theoretical analysis in favor of a historical approach. They believed that theories only express what happens in a simplified world, not in the real world, and that they offer little solution to the pressing social problems of the underprivileged. Seeking to find a middle ground between laissez faire capitalism and the Marxist revolution, they pioneered welfare capitalism.

Great Economic Thinkers is a collection of audio presentations that explain, in understandable language, the major ideas of history's most important economists. Special emphasis is placed on each thinker's attitude toward capitalism, revealing their influence in today's debate on economic progress and prosperity.

©1988 by Carmichael & Carmichael/Knowledge Products; (P)Blackstone Audiobooks

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    Sam Motes Tampa 03-14-13 Member Since 2011

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    This was my third in the great economic thinkers series and they are good concise reviews of the intellectuals of the different branches is the tree of economic thought. Just enough here to get me interested in further readings.

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    Hyrum TUCSON, AZ, United States 04-23-11
    Hyrum TUCSON, AZ, United States 04-23-11 Member Since 2011
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    This was originally produced for Knowledge Products on tape. I have listened to the economics series of which this is a part several times - and learn something each time. The production is excellent, the narration interesting and the topic fascinating -even when I disagree with the conclusions.

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