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Albert Everhard Friedrich Schäffle (or Schaeffle) was an German economist at Tübingen and Vienna, part of the German Historical School, on the older end of the "younger generation".
Born in Nürtingen, Wüttemberg. Albert (not Albrecht) Schäffle studied at Tübingen He launched a career as a journalist, working for nearly a decade at the Schwäbischer Merkur, before becoming professor of national economy (Nationalökonomie) at the University of Tübingen in 1860. He participated in politics, and was a member of the Wüttemberg parliament in the 1860s.
In 1868, Schäffle moved to Austria to take up a professorship at the University of Vienna. There he was the teacher of future Austrian economists Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser. Schäffle resigned his position abruptly in February 1871, to join the Austrian government as minister of commerce in the short-lived cabinet of federalist Sigmund Hohenwart. However, after the government collapsed by October, 1871, Schäffle did not (or could not) resume his professorship at Vienna, and retired to Stuttgart on a state pension. He would spend the ample remainder of his life dedicated to writing.
(The sudden availability of the Vienna chair in 1871 cleared the way for Carl Menger, who had just submitted his Grundsätze as his habilitation thesis at Vienna, to assume the chair in political economy at Vienna provisionally in 1873 (in full after 1879), and lead the Austrian School.of economics from that perch.)
In Bau und Leben (1874), oft-considered his magnum opus, Schäffle articulated his vision of society as a living organism, relying on the use of biological analogies. More popularly, Schaeffle's Quintessenz des Socialismus, proved to be a best-selling exposition of the socialist movement. He condemned the socialists for their unrealistic plans - in particular, their inability to account for individual incentives (something he would mull over in more detail in his 1885 book on social democracy). But Schaffle was no laissez faire liberal, but a standard-bearer of the German Historical School and its State interventionist ideal of a mixed or "managed capitalism", curbing the excesses of the impact on labor with active government policies.
As part of the Tübingen faculty, Schäffle had been an editor of the house journal Zeitschrift für gesamte Staatswissenschaft (ZGS, literally "Journal of All the Political Sciences", aka "Tübinger Zeitschfirt", f.1844, now recast as the Journal of Institutional and Theoretical Economics (JITE)), alongside political scientist Gustav von Schönberg and Karl Viktor Fricker. But Schäffle soon began giving it a more economic-oriented tone, especially after Adolphe Wagner joined as editor in 1878. Schäffle edited the ZGS alone by himself from 1892 to 1901, when he finally passed on the duties to Karl Bücher.
Major Works of Albert Schäffle
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Resources on Albert E,F, Schaffle
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