IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/48173.html
   My bibliography  Save this paper

Comparative historical institutional analysis of German, English and American economics

Author

Listed:
  • Yefimov, Vladimir

Abstract

The paper tries to explain the extraordinary expansion in the 20th century of the English-born neoclassical economics and at the same time the decline of the German historical tradition. Methodology used in this paper is evolutionary institutionalist, which can be called, following American political scientists, Historical Institutionalism. The link between science and university was created first in Germany at the beginning of the 19th century with the reform of Wilhelm Humboldt. At the end of the 19th century when the institutionalization of economics took place, curriculum of English and most of the American universities were dominated by classics and theology. This was the determinant factor of institutionalization of economics as abstract science with its a priori method. On the contrary, German economics was institutionalized in new research universities in which experimental approach was highly valued. The continuation and very successful development in the United States of the scientific economic tradition born in Germany in the form of the Wisconsin Institutionalism was due to the economic support of its research by the big business interested at that time to find solutions to the “labour problem”. The paper also contains the description of institutional mechanism of stability and expansion of neoclassical economics. For a century and a half, economics claims to be a science having as model natural sciences. It used in this claim a modernist-type of discourse. Bruno Latour and other specialists of Science Studies have shown that this type of discourse never corresponded to the realities of scientific research: “We have never been modern”. The paper shows what kind of lessons the economists should learn from science studies.

Suggested Citation

  • Yefimov, Vladimir, 2009. "Comparative historical institutional analysis of German, English and American economics," MPRA Paper 48173, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:48173
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/48173/1/MPRA_paper_48173.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. John B. Davis & D. W. Hands & Uskali Mäki (ed.), 1998. "The Handbook of Economic Methodology," Books, Edward Elgar Publishing, number 741.
    2. Nicolai J. Foss & Giampaolo Garzarelli, 2007. "Institutions as knowledge capital: Ludwig M. Lachmann's interpretative institutionalism," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(5), pages 789-804, September.
    3. Ariel Rubinstein, 2006. "Dilemmas of an Economic Theorist," Econometrica, Econometric Society, vol. 74(4), pages 865-883, July.
    4. Geoffrey M. Hodgson & Warren J. Samuels & Marc R. Tool (ed.), 1994. "The Elgar Companion to Institutional and Evolutionary Economics," Books, Edward Elgar Publishing, volume 0, number 228.
    5. Helge Peukert, 2001. "The Schmoller Renaissance," History of Political Economy, Duke University Press, vol. 33(1), pages 71-116, Spring.
    6. Karin Knorr Cetina, 1991. "Epistemic Cultures: Forms of Reason in Science," History of Political Economy, Duke University Press, vol. 23(1), pages 105-122, Spring.
    7. Yefimov, Vladimir M., 1981. "Gaming-simulation of the functioning of economic systems," Journal of Economic Behavior & Organization, Elsevier, vol. 2(2), pages 187-200, June.
    8. Keith Tribe, 2002. "Historical Schools of Economics: German and English," Method and Hist of Econ Thought 0211002, University Library of Munich, Germany.
    9. Ely, Richard Theodore, 1883. "The Past and Present of Political Economy," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 2, pages 225-235, September.
    10. Robert E. Prasch, 1996. "The Origins of the a Priori Method in Classical Political Economy: A Reinterpretation," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(4), pages 1105-1125, December.
    11. Grimmer-Solem, Erik, 2003. "The Rise of Historical Economics and Social Reform in Germany 1864-1894," OUP Catalogue, Oxford University Press, number 9780199260416.
    12. Douglas North, 2003. "The Role of Institutions in Economic Development," ECE Discussion Papers Series 2003_2, UNECE.
    13. Hall, Peter A. & Taylor, Rosemary C. R., 1996. "Political science and the three new institutionalisms," MPIfG Discussion Paper 96/6, Max Planck Institute for the Study of Societies.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vladimir Yefimov, 2017. "Comparative Historical Institutional Analysis of German, English and American Economics," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 13(2), pages 25-70.
    2. repec:mje:mjejnl:v:12:y:2017:i:2:p:25-70 is not listed on IDEAS
    3. Yefimov, Vladimir, 2013. "Philosophie et science économiques : leur contribution respective aux discours politiques [Economic philosophy and economic science: their respective contributions to political discourse]," MPRA Paper 54598, University Library of Munich, Germany.
    4. Yefimov, Vladimir, 2014. "Two disputes of methods, three constructivisms, and three liberalisms," MPRA Paper 56499, University Library of Munich, Germany.
    5. Vladiir Yefimov, 2015. "Two Diputes of Methods, Three Constructivisms, and Three Liberalisms. Part II," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 72-85.
    6. Yefimov, V. M., 2015. "Two Diputes of Methods, Three Constructivisms, and Three Liberalisms. Part II," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 1(2), pages 226-238.
    7. Yefimov, Vladimir, 2010. "Vers une autre science économique (et donc une autre institution de cette science) [Toward another economic science (and thus toward another institution of this science)]," MPRA Paper 49119, University Library of Munich, Germany.
    8. Yefimov, Vladimir, 2007. "Предмет И Метод Интерпретативной Институциональной Экономики [Subject matter and method of interpretive institutional economics]," MPRA Paper 49118, University Library of Munich, Germany.
    9. Yefimov, Vladimir, 2012. "How Capitalism, University and Mathematics as Institutions Shaped Mainstream Economics," MPRA Paper 47920, University Library of Munich, Germany, revised 07 Jul 2013.
    10. Yefimov, Vladimir, 2004. "On pragmatist institutional economics," MPRA Paper 49016, University Library of Munich, Germany.
    11. Yefimov, Vladimir, 2009. "Институциональный Подход В Экономической Науке И К Экономической Науке [The institutional approach in economics and to economics]," MPRA Paper 48718, University Library of Munich, Germany.
    12. Vladiir Yefimov, 2015. "Two Disputes Of Methods, Three Constructivisms, And Three Liberalisms. Part I," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 29-38.
    13. Yefimov, V. M., 2015. "Two Disputes of Methods Three Constructivisms and Three Liberalisms. Part I," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 1(1), pages 24-33.
    14. Yefimov, Vladimir, 2011. "Дискурсивный Анализ В Экономике:Пересмотр Методологии И Истории Экономической Науки. Часть 1. Иная Методология Экономической Науки [Discourse analysis in economics: methodology and history of econo," MPRA Paper 49157, University Library of Munich, Germany.
    15. Yefimov, Vladumir, 2011. "Дискурсивный Анализ В Экономике: Пересмотр Методологии И Истории Экономической Науки. Часть 2 - Иная История И Современность [Discourse analysis in economics: methodology and history of economics r," MPRA Paper 49069, University Library of Munich, Germany.
    16. Stefanović Zoran & Petrović Dragan, 2016. "The ‘Institutions-Individual’ Conceptual Nexus as a Basis of Alternative Economic Methodologies," Economic Themes, Sciendo, vol. 54(1), pages 1-20, March.
    17. Andrea Salanti, 2013. "Between the Scylla of Whig history and the Charybdis of methodological vacuum," Chapters, in: Marcel Boumans & Matthias Klaes (ed.), Mark Blaug: Rebel with Many Causes, chapter 14, pages 191-207, Edward Elgar Publishing.
    18. Ritchie, Holly A., 2016. "Unwrapping Institutional Change in Fragile Settings: Women Entrepreneurs Driving Institutional Pathways in Afghanistan," World Development, Elsevier, vol. 83(C), pages 39-53.
    19. Jaime Lozano, 1999. "Economía institucional y ciencia económica," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 1(1), pages 99-128, July-dece.
    20. Gräbner, Claudius, 2014. "Agent-Based Computational Models - A Formal Heuristic for Institutionalist Pattern Modelling?," MPRA Paper 56415, University Library of Munich, Germany.
    21. Yefimov, Vladimir, 2003. "Enseignement et recherche pragmatistes en économie et gestion [Pragmatist teaching and research in economics and management]," MPRA Paper 54704, University Library of Munich, Germany.

    More about this item

    Keywords

    institution of economics; German and English approaches to economics; institutional mechanism of stability and expansion of neoclassical economics; Bruno Latour’s model of scientific research; interpretive/pragmatic paradigm.;
    All these keywords.

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:48173. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.