The historical schools of economics have been neglected within the arena of economic theory since the Second World War in favour of the now-dominant classical and neoclassical schools of economic thought. Torkel Aschehoug and Norwegian Economic Thought offers a revaluation of the historical-empirical approach to economics that the Norwegian legal theorist and politician Aschehoug became renowned for during the last decades of the nineteenth century up to his death in 1909. Fasting approaches Aschehougs economic thought in relation to his Norwegian colleagues, as well as the dominant international economists of the time. This comparison shows a theoretical affiliation with Gustav von Schmoller, in particular, through Aschehougs major work Socialkonomik, as well as British economist Alfred Marshalls marginal theory. Fasting blends a historical account of the dominant economic models of the late 1800s with a review of contemporary theory through recent economic crises. This work argues that Aschehougs Socialkonomik is strikingly relevant to a present-day readership, revealing itself as a work which offers real insight into the reasons for economic collapse.
Torkel Aschehoug and Norwegian Historical Economic Thought
Reconsidering a Forgotten Norwegian Pioneer Economist