Comparative Historical Institutional Analysis of German, English and American Economics
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 poli...
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NGO “Economic Laboratory for Transition Research” (ELIT)
2017-06-01
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| Series: | Montenegrin Journal of Economics |
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| Online Access: | http://mnje.com/sites/mnje.com/files/25-70-_yefimov.pdf |
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| author | Vladimir Yefimov |
| author_facet | Vladimir Yefimov |
| author_sort | Vladimir Yefimov |
| collection | DOAJ |
| description | 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 modernisttype
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. |
| format | Article |
| id | doaj-art-6c4fcb82adcd4bc88d65b475630aa525 |
| institution | Kabale University |
| issn | 1800-5845 1800-6698 |
| language | English |
| publishDate | 2017-06-01 |
| publisher | NGO “Economic Laboratory for Transition Research” (ELIT) |
| record_format | Article |
| series | Montenegrin Journal of Economics |
| spelling | doaj-art-6c4fcb82adcd4bc88d65b475630aa5252025-08-20T03:33:39ZengNGO “Economic Laboratory for Transition Research” (ELIT)Montenegrin Journal of Economics1800-58451800-66982017-06-011322570Comparative Historical Institutional Analysis of German, English and American EconomicsVladimir Yefimov0University of Geneva, Central Economic and Mathematical Institute, Russian Academy of SciencesThe 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 modernisttype 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.http://mnje.com/sites/mnje.com/files/25-70-_yefimov.pdfinstitution of economicsGerman and English approaches to economicsinstitutional mechanism of stability and expansion of neoclassical economicsconstructivist model of scientific researchinterpretive/pragmatist paradigm. |
| spellingShingle | Vladimir Yefimov Comparative Historical Institutional Analysis of German, English and American Economics Montenegrin Journal of Economics institution of economics German and English approaches to economics institutional mechanism of stability and expansion of neoclassical economics constructivist model of scientific research interpretive/pragmatist paradigm. |
| title | Comparative Historical Institutional Analysis of German, English and American Economics |
| title_full | Comparative Historical Institutional Analysis of German, English and American Economics |
| title_fullStr | Comparative Historical Institutional Analysis of German, English and American Economics |
| title_full_unstemmed | Comparative Historical Institutional Analysis of German, English and American Economics |
| title_short | Comparative Historical Institutional Analysis of German, English and American Economics |
| title_sort | comparative historical institutional analysis of german english and american economics |
| topic | institution of economics German and English approaches to economics institutional mechanism of stability and expansion of neoclassical economics constructivist model of scientific research interpretive/pragmatist paradigm. |
| url | http://mnje.com/sites/mnje.com/files/25-70-_yefimov.pdf |
| work_keys_str_mv | AT vladimiryefimov comparativehistoricalinstitutionalanalysisofgermanenglishandamericaneconomics |