Historical school of economics in the context of "Freiburg school"

Alexander Gerschenkron (Russian: Александр Гершенкрон; 1 October 1904 – 26 October 1978) was an American economic historian and professor at Harvard University trained in the German historical school of economics.

Born into a Jewish family in Odessa, then part of the Russian Empire, now in Ukraine, Gerschenkron fled the country during the Russian Civil War in 1920 to Austria, where he attended the University of Vienna, earning a doctorate in 1928. After the Anschluss in 1938, he emigrated to the United States.

Daniel Friedrich List (6 August 1789 – 30 November 1846) was a German entrepreneur, diplomat, economist and political theorist who developed the nationalist theory of political economy in both Europe and the United States. He was a forefather of the German historical school of economics and argued for the Zollverein (a pan-German customs union) from a nationalist standpoint. He advocated raising tariffs on imported goods while supporting free trade of domestic goods and stated the cost of a tariff should be seen as an investment in a nation's future productivity. His theories and writing also influenced the American school of economics.

List was a political liberal who collaborated with Karl von Rotteck and Carl Theodor Welcker on the Rotteck-Welckersches Staatslexikon [de], an encyclopedia of political science that advocated constitutional liberalism and which influenced the Vormärz. At the time in Europe, liberal and nationalist ideas were almost inseparably linked, and political liberalism was not yet attached to what was later considered "economic liberalism." Emmanuel Todd considers List a forerunner to John Maynard Keynes as a theorist of "moderate or regulated capitalism."

The Austrian school is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self-interest. Austrian-school theorists hold that economic theory should be exclusively derived from basic principles of human action.

The Austrian school originated in 1871 in Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. It was methodologically opposed to the Historical school, in a dispute known as Methodenstreit, or methodology quarrel. Current-day economists working in this tradition are located in many countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian school are the subjective theory of value, marginalism in price theory and the formulation of the economic calculation problem.

Heterodox economics is a broad, relative term referring to schools of economic thought which are not commonly perceived as belonging to mainstream economics. There is no absolute definition of what constitutes heterodox economic thought, as it is defined in contrast to the most prominent, influential or popular schools of thought in a given time and place.

Groups typically classed as heterodox in current discourse include the Austrian, ecological, Marxist-historical, post-Keynesian, and modern monetary approaches.

Gustav Friedrich (after 1908: von) Schmoller (German: [ˈʃmɔlɐ] ; 24 June 1838 – 27 June 1917) was the leader of the "younger" German historical school of economics.

He was a leading Sozialpolitiker (more derisively, Kathedersozialist, "Socialist of the Chair"), and a founder and long-time chairman of the Verein für Socialpolitik, the German Economic Association, which continues to exist.

François Joseph Charles Simiand (18 April 1873 – 13 April 1935) was a French sociologist and economist best known as a participant in the Année Sociologique. As a member of the French historical school of economics, Simiand predicated a rigorous factual and statistical basis for theoretical models and policies. His contribution to French social science was recognized in 1931 when, at the age of 58, he was elected to the faculty of the Collège de France and accepted the chair in labor history.

Simiand's career was unusual. Like many destined to become influential academics in France, he entered the École Normale Supérieure and graduated in philosophy at the top of his class in 1896. However, he quickly became interested in law and economics and submitted a thesis on the wages of coal miners in France (1904) to the faculty of law rather than becoming an academic. As a result, he foreclosed forever the possibility of a prominent university appointment. Thus in 1901 he became the librarian for the French Ministries of Commerce and Labor, a post he held until the outbreak of World War I. From 1910 on he also taught Economic History at the École Pratique des Hautes Etudes, an institution which did not require a doctorate from its lecturers.

Methodenstreit (German for "method dispute"), in intellectual history beyond German-language discourse, was an economics controversy commenced in the 1880s and persisting for more than a decade, between that field's Austrian School and the (German) Historical School. The debate concerned the place of general theory in social science and the use of history in explaining the dynamics of human action. It also touched on policy and political issues, including the roles of the individual and state. Nevertheless, methodological concerns were uppermost and some early members of the Austrian School also defended a form of welfare state, as prominently advocated by the Historical School.

When the debate opened, Carl Menger developed the Austrian School's standpoint, and Gustav von Schmoller defended the approach of the Historical School.