| Book Review | The Journal of American History, 88.4

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| Book Review | The Journal of American History, 88.4 | The History Cooperative

Book Review

Der Richtungsstreit in der frühen amerikanischen Wirtschaftslehre und der Einfluß der Deutschen Historischen Schule (Opposing factions in early American economic theory and the influence of the German historical school). By Gisela Schmalz. (Marburg: Metropolis, 1998. 350 pp. Paper, DM 68, ISBN 3-89518-214-1.) In German.

In this exegesis of the American economic tradition, Gisela Schmalz provides a general examination of the arguments inspired by the interests of the two political economic schools of thought that emerged during the second half of the nineteenth century. One school aligned itself with the British classical tradition, whereas the other looked to the German historical school for guidance. A salutary aspect of this work is that she is able to capture the essence of the theoretical arguments over which economic model to emulate. Indeed, she ably recounts the extensive intellectual discourse that grew out of the efforts to develop a socioeconomic optimum that would meet the challenges posed by the dynamics of industrialization in late-nineteenth-century America. . . .

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