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Werner Sombart

Werner Sombart
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Overview

Werner Sombart (; German: [ˈzɔmbaʁt]; 19 January 1863 – 18 May 1941) was a German economist, historian and sociologist. Head of the "Youngest Historical School," he was one of the leading Continental European social scientists during the first quarter of the 20th century. The term "late capitalism" is accredited to him. The concept of "creative destruction" associated with capitalism is also of his coinage.

His magnum opus was Der moderne Kapitalismus. It was published in three volumes from 1902 through 1927. In Kapitalismus he described four stages in the development of capitalism from its earliest iteration as it evolved out of feudalism, which he called proto-capitalism to early, high and, finally, late capitalism – Spätkapitalismus – in the post World War I period.

Overview adapted from Wikipedia (CC BY-SA 4.0; see the article history for authors).

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  1. The most insignificant Doctor of Philosophy, nay, even the student, has no further use for a complete "system." In the modern state, it is predicated that every citizen is able to pass judgment on all the questions upon which he is called upon to vote; in political economy it is assumed that every consumer is thoroughly acquainted with all commodities, which he has occasion to buy to maintain himself withal, and the…

    Friedrich Engels, Landmarks of Scientific Socialism

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  2. They appeared as immediate forerunners of the famous Report of the Bullion Committee of 1810, in which Ricardo’s views were adopted.[133] The singular circumstance, that Ricardo and his adherents, who held money to be merely a token of value, are called bullionists, is due not only to the name of that committee, but also to the nature of their theory. In his work on political economy, Ricardo repeated and developed…

    Karl Marx, A Contribution to the Critique of Political Economy

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  3. In the larger towns it forms almost the majority of the inhabitants; in the smaller ones it entirely predominates, from the absence of wealthier competitors or influence. This class, a most important one in every modern body politic, and in all modern revolutions, is still more important in Germany, where, during the recent struggles, it generally played the decisive part. Its intermediate position between the class…

    Friedrich Engels, Revolution and Counter-Revolution

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Related ideas

Place in the tradition

Part of German philosophy.

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