The German Historical School

The German Historical School was an influential 19th-century movement in economics that focused on understanding economic principles through historical context and national experiences. It emphasized the importance of customs, traditions, and societal institutions in shaping economic behavior, rather than applying universal theories. Founded by scholars like Friedrich List, the school argued that economics should be studied as part of a broader social and political framework, advocating for policies that support national development and industrialization. Its approach contrasted with the more abstract, mathematical methods of classical economics, emphasizing empirical research and the uniqueness of each country's economic path.