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Fall 2014

ISSN 0890-913X

Volume 29, Number 3

Categories: Fall 2014 | Economic Schools

Hamilton, Harvard, and the German Historical School: A short Note on a Curious History

Hans L. Eicholz, Liberty Fund

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TheJournalofPrivateEnterprise29(3),2014,43–59Hamilton,Harvard,andtheGermanHistoricalSchool:AShortNote1onaCuriousHistoryHansL.EicholzLibertyFund,Inc.__________________________________________________________AbstractHamilton’sreputationremainshighamongmodernhistoriansandpoliticaleconomists.Yet,hisideasborrowedonlythemostsuperficialaspectsfromSmith’sWealthofNations,replacingthemechanismofunintendedconsequenceswiththeintentionalandobservablephenomenaofhistoricalexperience.Thatshiftinapproachhadaprofound,thoughlittle-recognizedinfluenceonideasinGermany,fromwhencetheyreturnedtoinfluencecurrentacademicthinkinginunexpectedways.__________________________________________________________JELCodes:B1,B3,B4,N11,N14,L2Keywords:AlfredChandler,AlexanderHamilton,FriedrichList,FritzRedlich,GustavSchmoller,GermanHistoricalSchool,NewOrganizationalSchool,WilhelmRoscherAlexanderHamilton’sreputationhaswaxedandwaned,butonejudgmentappearsfairlyconstant:hisplaceastheAmericanfounding’sleadingthinkeronfinanceandpoliticaleconomy.Andyet,hisspecificeffortsmovedexactlycontrarytothecorecontributionofAdamSmith;namely,Smith’srefinementoftheideaofthe“invisiblehand,”whererationalself-interestleadstotheunintendedflourishingofothers.Butstill,generationsofscholarshaveaffirmedHamilton’ssagacityasaneconomicthinker(Knott2002,pp.6–7,221–23).Mostrecently,ThomasMcCraw,aprominentmemberofthenownot-sonew“NewOrganizationalSchool”ofinterpretation,reaffirmedthatjudgment(McCraw2012,p.93).WhyisitthattheHamiltonianturntakessuchprominenceinscholarlycircles?Theintellectualconnectionsarecloserthanonemightthink.1Duetospaceconsiderations,thisessaywasreducedfromalongerresearchproject.43

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Title	Hamilton, Harvard, and the German Historical School: A short Note on a Curious History
Authors/Creators:	Hans L. Eicholz, Liberty Fund
Year:	2014
Volume:	29
Number:	3
Pages:	43 - 59
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Alfred Chandler, Alexander Hamilton, Friedrich List, Fritz Redlich, Gustav Schmoller, German Historical School, New Organizational School, Wilhelm Roscher

Citation:
Eicholz, Hans L. / 2014. "Hamilton, Harvard, and the German Historical School: A short Note on a Curious History." The Journal of Private Enterprise, 29(3): 43-59.