Younger Historical School

A group of 19th century German economists whose approach was quite different from the Anglo-Saxon approach of David Ricardo and John Stuart Mill. They rejected universal theorems, emphasized history rather than logic and mathematics, and brought historical, political and social data into economics. As an economist, Max Weber was a member of the School, which had a marked influence on the American institutional approaches of John R. Commons, Joseph Schumpeter, John Kenneth Galbraith, et. al.