Gustav von Schmoller

Gustav von Schmoller was a German economist and social reformer in the late 19th and early 20th centuries. He is best known for founding the Historical School of Economics, which emphasized studying economic development within specific historical and social contexts rather than relying solely on abstract theories. Schmoller believed that understanding the unique circumstances of different societies was essential for creating effective economic policies. His work helped shape modern economic history and thought, highlighting the importance of examining how social, cultural, and political factors influence economic behavior and institutions.