Influence in The Anglosphere
In the Anglosphere (English speaking countries), the Historical school is perhaps the least known and least understood approach to the study of economics, because it differs radically from the now-dominant Anglo-American analytical point of view. Yet the Historical school forms the basis—both in theory and in practice—of the social market economy, for many decades the dominant economic paradigm in most countries of continental Europe. The Historical school is also a source of Joseph Schumpeter's dynamic, change-oriented, and innovation-based economics. Although his writings could be critical of the School, Schumpeter's work on the role of innovation and entrepreneurship can be seen as a continuation of ideas originated by the Historical School, especially the work of von Schmoller and Sombart.
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“Nature has taken more care than the fondest parent for the education and refinement of her children. Consider the silent influence which flowers exert, no less upon the ditcher in the meadow than the lady in the bower. When I walk in the woods, I am reminded that a wise purveyor has been there before me; my most delicate experience is typified there.”
—Henry David Thoreau (1817–1862)