The Theory of Ethical Economy in the Historical School

Book excerpt: The Historical School of Economics develops a historical theory of the economy and of business ethics. It investigates the ethical and cultural determinants of economic behaviour and economic institutions and forms an ethical and cultural theory of economics and business and the origin what, in the present, is called "institutional economics". Being one of the first comprehensive studies in the English language of the German "Historical and Ethical School of Economics", the book presents the theory from Wilhelm Roscher to Gustav Schmoller, the foundations of historism and the humanities of Wilhelm Dilthey and their present relevance. It also makes visible which impact the Historical School has for the foundations of contemporary business ethics and the cultural theory of the economy.