English School
Further information: English historical school of economicsAlthough not nearly as famous as its German counterpart, there was also an English Historical School, whose figures included Francis Bacon and Herbert Spencer. It was this school that heavily critiqued the deductive approach of the classical economists, especially the writings of David Ricardo. This school revered the inductive process and called for the merging of historical fact with those of the present period. Included in this school are: William Whewell, Richard Jones, Walter Bagehot, Thorold Rogers, Arnold Toynbee and William Cunningham just to name a few.
Read more about this topic: Historical School Of Economics
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