"It is not generally recognised that Hermann's work extended far beyond Ricardo. This adequately characterises his merits as a theorist. But it does as little justice to his (statistical and other types of) documentary research as it does to the man who left his imprint as a politician, official and teacher during the years in which the modern Germany was created," Joseph Alois Schumpeter writes about the German economist. Friedrich Benedikt Wilhelm von Hermann (1795-1868) called himself a student of Adam Smith. However, his main theoretical work "State Economic Studies" shows him as a very independent thinker who comprehends the economy as an organisational task of human coexistence. Horst Claus Recktenwald honours Hermann not just as a representative of "classic economics," but also places him right after J.H. von Thünen and H.H. Gossen in the ranks of the forerunners for modern welfare economics.
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