Gustav Schmoller

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Gustav Schmoller

German economist

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comparison with Keynes

In John Neville Keynes
…the followers of German economist Gustav von Schmoller, who advocated an inductive approach. Keynes, by contrast, insisted that both induction and deduction were essential components of sound economic analysis. He felt that inductive reasoning provided the general premises upon which deduction had to be based and that deduction resulted in…
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historical school of economics

In historical school of economics
Its primary founder was Gustav von Schmoller, who hoped to identify cultural trends through extensive historical inquiry. Other prominent members of this school were Georg Friedrich Knapp and Lujo Brentano. Although the historical school was most influential in Germany, its impact was felt throughout Europe and the United States,…
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