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The English historical school of economics, although not nearly as famous as its German counterpart, sought a return of inductive methods in economics, following the triumph of the deductive approach of David Ricardo in the early 19th century.[1] The school considered itself the intellectual heirs of past figures who had emphasized induction, such as Francis Bacon, and Adam Smith.[2] Included in this school are: William Whewell, Richard Jones, Thomas Edward Cliffe Leslie, Walter Bagehot, Thorold Rogers, Arnold Toynbee, and William Cunningham.[3] The Historical school of economics was a mainly German school of economic thought which held that a study of history was the key source of knowledge about human actions and economic matters, since economics would be culture-specific and not generalizable over space and time. ...
The term induction has more than one meaning in the English language. ...
Deductive reasoning is the process of reaching a conclusion that is guaranteed to follow, if the evidence provided is true and the reasoning used to reach the conclusion is correct. ...
David Ricardo (April 18, 1772 â September 11, 1823), a political economist, is often credited with systematising economics, and was one of the most influential of the classical economists, along with Thomas Malthus, and Adam Smith. ...
Francis Bacon, 1st Viscount St Alban, KC (22 January 1561 â 9 April 1626) was an English philosopher, statesman and essayist but is best known for leading the scientific revolution with his new observation and experimentation theory which is the way science has been conducted ever since. ...
Adam Smith, FRSE, (baptized and probably born June 5, 1723 O.S. (June 16 N.S.) â July 17, 1790) was a Scottish political economist and moral philosopher. ...
William Whewell William Whewell (May 24, 1794 â March 6, 1866) was an English polymath, scientist, Anglican priest, philosopher, theologian and historian of science. ...
Richard Jones (1790 - 26 January 1855) was an English economist. ...
Thomas Edward Cliffe Leslie (1827 - January 27, 1882), English economist, was born in the county of Wexford in (as is believed) the year 1827. ...
Walter Bagehot (3 February 1826 â 24 March 1877), IPA (see [[1]]), was a nineteenth century British economist. ...
This page is about the economic historian Arnold Toynbee; for the universal historian Arnold Joseph Toynbee see this article. ...
William Cunningham (December 29, 1849 - 1919), English economist, was born at Edinburgh, Scotland. ...
Notes
- ^ Spiegel, 1991
- ^ Cliffe Leslie, 1870
- ^ Spiegel, 1991
References - Spiegel, Henry William. 1991. The Growth of Economic Thought. Durham & London: Duke University Press.
- Cliffe Leslie, T.E. 1870. "The Political Economy of Adam Smith." Fortnightly Review (London). 14:549-563.
External links
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