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Cambridge Journal of Economics Advance Access originally published online on November 18, 2008
Cambridge Journal of Economics 2009 33(3):495-516; doi:10.1093/cje/ben052
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© The Author 2008. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

Joseph Schumpeter and the German Historical School

Panayotis G. Michaelides and John G. Milios*

Address for correspondence: Dr. P. G. Michaelides, Department of Humanities, Social Sciences and Law, National Technical University of Athens, Zografou Campus, 157.80, Athens, Greece; email: pmichael{at}central.ntua.gr

So far Schumpeter's affinities with the German Historical School (GHS) have been inadequately acknowledged or even unexplored in major accounts of Schumpeter's work. This essay argues that Schumpeter's principal theses are consistent with the GHS. Schumpeter's affinity with the GHS is established by examining his writings and his relationship with Schmoller, Max Weber and Sombart. It is demonstrated that Schumpeter's works built heavily on the GHS. However, some obvious differences between Schumpeter and the GHS are observed. Clearly future and more extended research on the GHS would be of great interest.

Key Words: Schumpeter • German Historical School • Influence • History • Theory

JEL classifications: B15, B25, B31, B52

A previous online Version of this article contained omissions and has been retracted.

Manuscript received August 6, 2007; final version received May 13, 2009.


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