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Werner Sombart

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"text": "Werner Sombart was a major German economist, historian, and sociologist. He was a leading social scientist in Continental Europe during the early 20th century. Sombart headed a group known as the \"Youngest Historical School.\" This group focused on how economic systems change over long periods of time. He is well known for creating the term \"late capitalism.\" He also coined the concept of \"creative destruction.\" This term describes how capitalism constantly changes by replacing old things with new ones.

Sombart - Wirtschaftsleben im Zeitalter des Hochkapitalismus, 1928
Sombart - Wirtschaftsleben im Zeitalter des Hochkapitalismus, 1928

\n\nSombart's most important work was a massive series called *Der moderne Kapitalismus*. This magnum opus was published in three volumes between 1902 and 1927. He used these books to map the history of economic development. He divided the growth of capitalism into four distinct stages. First, he identified \"proto-capitalism,\" which grew out of the old feudal system. Next, he described \"early capitalism,\" which existed before the Industrial Revolution. He then moved to \"high capitalism,\" a period of intense growth. Finally, he identified \"late capitalism,\" or *Spätkapitalismus*, which began around the time of World War I.\n\nSombart's academic journey began in Ermsleben, Harz. He was the son of Anton Ludwig Sombart, a wealthy industrialist and politician. Werner studied law and economics at universities in Pisa, Berlin, and Rome. In 1888, he earned his Ph.D. from the University of Berlin. He studied under famous economists Gustav von Schmoller and Adolph Wagner. Early in his career, Sombart was considered a radical thinker. He called himself a \"convinced Marxist\" for a time. However, he later admitted that Karl Marx had made mistakes on important points. Because of his radical views, governments sometimes blocked him from prestigious teaching jobs.\n\nSombart explored many different social connections in his writing. In 1896, he published *Sozialismus und soziale Bewegung* about social movements. He believed the worker's movement resulted from contradictions within capitalism. In 1911, he wrote *Die Juden und das Wirtschaftsleben*. This book studied how Jewish traders influenced modern capitalism. He argued that because Jewish traders were excluded from medieval guilds, they helped create a new system. This new system focused on unlimited competition and pleasing the customer. He also wrote *Der Bourgeois* in 1913. This book explored the psychology of the modern businessman and the \"greed for gold.\"\n\nDuring World War I, Sombart's views became more focused on national identity. In 1915, he wrote *Händler und Helden*. In this book, he viewed the war as a conflict between different cultures. He saw the English as a commercial civilization. He viewed the Germans as having a \"heroic culture.\" Sombart believed that the German state should be a *Volksgemeinschaft*. This means a \"people's community\" where the group is more important than the individual. He argued that individual rights were less important than duties to the state. This view stood in contrast to the ideals of liberty and equality.\n\nIn his later years, Sombart's ideas moved toward nationalism. In 1934, he published *Deutscher Sozialismus*. He claimed a new spirit was beginning to rule mankind. He believed the age of capitalism was ending. He argued that \"German socialism\" would replace it. This system focused on a planned economy regulated by the state. He believed the welfare of the whole group should come before the welfare of the individual. He described this as a metaphysical \"national spirit\" or *Volksgeist*. This period of his life marked a major shift in his political thinking.\n\nSombart was also a very famous sociologist. He believed sociology should be a part of the Humanities. He argued that sociologists need *Verstehen*, which means an empathic understanding of people. He felt this was different from the "scientification" of social sciences. Many of his peers wanted social science to be more like hard physics or biology. They preferred "objectifying" facts over empathic understanding. Even though his methods were controversial, his work remains significant. His ideas helped influence the Annales school of history. Today, scholars still study his complex views on history and society.",

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