20-th topic. Social approach to economics – German school

Sociologist and economist R.Stammler (1856-1938) and professor of political economy R.Stolsman (1852-1930)

The social school as an extension of new historical school looks through juridical and ethical norms as determinants of economic relations. 

However, differently from the new historical school defenders of social school showed that:

ü economic relations have got certain social content and entity;

ü there are public relations in the base of economic relations;

ü economic theory should study economic relations in the foundation of social approach.

The social school importantly affected to the future evolution of economics (economic theory). Defenders of this school had proved the ideas about improvement of economy through social reforms.

They were approached to government regulation of production as a main method to avoid social-economic contradictions of capitalism.

Social school was presented the foundation of the new public formation that denied social antagonisms:

ü Future evolution of the private property;

ü Development of stock ownership;

ü Development of monopolies that organized their activity by planning.

Thus, this German school as a introduction for studying of social values in the economic relations had created bases for the new theoretical approaches that is useful nowadays.

 Some materials were used from the book of “The history of economic studies” published under  editing by M.Meybullayev

Aghanemat Aghayev