Arthur Spiethoff, 1873-1957
A student of Gustav Schmoller, Arthur Spiethoff is one of
the few members of the German Historical School to
make a substantial impact on mainstream economics. This impact was in the field of business cycle theory. Spiethoff's theory of cycles
(1902, 1903, 1923) built upon that of Tugan-Baranovsky's overinvestment theory and nudged the theory
along by giving credit, the heart of the overinvestment theory, an endogenous character
through innovation. Spiethoff's theory was later used with much profit by Schumpeter and Cassel.
Spiethoff also participated in the Methodenstreit that pitted the German Historical School against the Austrian School.
However, while at Bonn in the 1920s, Spiethoff crossed paths with Joseph
Schumpeter and the two supposedly got on quite
productively. Although Spiethoff's famous "economic
styles" argument was for a reconciliation between the theoretical and empirical
methods, his heart was inevitably on the side of the German Historical School (1932, 1952,
1953).
Originating from Dusseldorf, Arthur August Caspar Spiethoff enrolled
at the University of Berlin in 1893, studying economics under Adolph
Wagner and Gustav von
Schmoller. Graduating in 1899, Spiethoff stayed on in Berlin,
assisting Schmoller in in the editing of Schmollers Jahrbuch (JGVV),
and writing his doctorate thesis on
business cycle theory (1905). His habilitation thesis was finished
in 1907, and Spiethoff was subsequently appointed to the chair in
political economy at University of Prague, succeeding Alfred
Weber. In 1918, Spiethoff moved to the
University of Bonn. Spiethoff was joined by
Schumpeter in 1925, and they worked
alongside each other at Bonn. Spiethoff is often credited
for turning Schumpeter on to cycle research.
Spiethoff is also sometimes credited as an independent inventor of
Aftalion's
accelerator theory of
investment.
Initially supportive of the Nazi regime. Spiethoff remained at Bonn
after 1933, until his retirement in 1939.
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Major works of Arthur Spiethoff
- (Editor) Gustav von Schmoller und die deutsche geschichtliche
Volkswirtschaftslehre
- "Vorbemerkungen zu einer Theorie der Überproducktion", 1902, SchmJGVV,
p.721
- "Die Krisentheorien von M. v. Tugan- Baranovsky und
L.Pohle", 1903, SchmJfGVV,
p.679
- Outline of General Economic History, 2 vols, 1900/04.
- Beiträge zur Analyse und Theorie der allgemeinen Wirtschaftskrisen,
1905 [bk]
- "Die äussere Ordnung des Kapital- und Geldmarktes", 1909, SchmJfGVV,
p.445
- "Das Verhältnis von Kapital, Geld und Güterwelt", 1909, SchmJfGVV,
p.927
- "Der Kapitalmangel in seinem Verhältnis zur Güterwelt", 1909, SchmJfGVV,
p.1417
- Untersuchungen über Preisbildung, Abteilung D, Der Einfluss der
Golderzeugung auf die Preisbildung 1890 – 1913. Part 1. Die allgemeine
Preisbewegung 1890 – 1913. 1914
- "Gustav v. Schmoller", 1918, SchmJGVV (v.42.1), p.11 [av]
- "Die Krisenarten", 1918, SchmJGVV (n.42.1), p.223 [av]
- "Die Kreditkrise", 1918, SchmJGVV, (v.42.2) p.571 [av]
- "De Begriff das Kapital- und Geldmarktes", 1920, SchmJfGVV,
p.981 [av]
- "Die Vereinbarung der deutschen Unterrichtsverwaltungen über die
Diplomprüfing für Volkswirte vom 27 Jänner 1922" 1922, SchmJfGVV,
p.875 [av]
- "Business Cycles", 1923, Handworterbuch der Staatswissenschaften.
- "Krisen", 1925, Handworterbuch der Staatswissenschaften
- "Die Allgemeine Volkswirtschaftslehre als Geschichtliche Theorie",
1932, SchmJfGVV.
- Boden und Wohnung in der Martkwirtschaft, insbes. im Rheinland, 1934
- "Gustav von Schmoller und die anschauliche Theorie der Volkswirtschaft",
1938, in Spiethoff, ed, Gustav von Schmoller und die deutsche
geschichtliche Volkswirtschaftslehre
- "Anschauliche und reine Theorie und ihr Verhältnis zueinander", 1948, in
E. Salin, ed, Synopsis: Festgabe für Alfred Weber
- "Joseph Schumpetr in Memoriam", 1950, Kyklos
- "The Historical Character of Economic Theories", 1952, JEH.
- "Business Cycles", 1953, IER
- "Pure Theory and Economic Gestalt Theory", 1953, in Lane and Riemersma,
editors, Enterprise and Secular Change.
- Die wirtschaftlichen Wechsellagen.Aufschwung, Krise, Stockung. 2
vols., 1955
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Resources on Arthur Spiethoff
- "Le cycle économique chez Arthur Spiethoff" by Claude Diebolt, 2007,
Rev d'EP [online]
- "The Beat of the Economic Heart: Joseph Schumpeter and Arthur Spiethoff
on Business Cycles" by Heinz Kurz, 2010 [pdf]
- "Speiethoff,
Arthur" by B. Schefold, Neue Deutsche Biographie
- Wikipedia
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All rights reserved, Gonçalo L. Fonseca
