Abstract
The development of German economics in the 20th century is characterized by an interaction between internal scientific factors and external political factors. The dominance of the Historical School ended with the death of Schmoller and the First World War. The pressing economic problems of the young Weimar Republic stimulated macroeconomic research and national income accounting, whereas the Nazis’ rise to power caused an important intellectual emigration from which German economics recovered only slowly after 1945. After an early period of ordoliberalism, as in other countries the development of economics has increasingly reflected a process of internationalization dominated by American economics.
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Hagemann, H. (2018). Germany, Economics in (20th Century). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2355
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2355
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