The theory of capitalism and of the economic order is the central topic of the German economic tradition in the 20th century. Capitalism has not only been the topic for Marxist economics and for the Frankfurt School but also for the Historical School and for the postmarxist theory of capitalism in Ordo- and Neo-Liberalism as well as in Solidarism. The question of the foundations of the economic order of the market economy and of capitalism as well as the problem whether a third path between capitalism and social­ ism is possible occupied this tradition from the Historical School to Ordo­ Liberalism and the theory of the social market economy. The theory of capitalism and of the social market economy as well as the critique and reform developed in this theoretical tradition is important for the theory of economic systems as well as for today's problems of the eco­ nomic order. Its relevance for the present world economy is visible in the discussions whether there exist different models of capitalism and whether they can be described as the Anglo-American and as the Rhenish model of capitalism influenced by the thought of the German economic tradition. Michel Albert, the author of this classification, gave the key-word in his book Capitalism against Capitalism. The papers of this book can help to clarify this debate by giving a first hand introduction to some of the main economic thinkers of capitalism.

One Theory of Capitalism, Historism, and Economics in Joseph Schumpeter, Emil Lederer, and Franz Oppenheimer.- 1 Joseph Schumpeter and the German Historical School.- 2 Emil Lederer (1882-1939): Economical and Sociological Analyst and Critic of Capitalist Development.- 3 Franz Oppenheimer's Theory of Capitalism and of a Third Path.- Two The Theory of Capitalism, the Historical School, and the Theory of the Social Market Economy in Ordo-Liberalism and Neo-Liberalism: Walter Eucken, Alfred Müller-Armack, Franz Böhm, Friedrich Hayek.- 4 Walter Eucken (1891-1950) and the Historical School.- 5 Franz Böhm and the Theory of the Private Law Society.- 6 Alfred Müller-Armack - Economic Policy Maker and Sociologist of Religion.- 7 The Market Economy and the State. Hayekian and Ordoliberal Conceptions.- Three The Critique of Capitalism in Hilferding and in the Frankfurt School.- 8 Rudolf Hilferding's Theory of Finance Capitalism and Today's World Financial Markets.- 9 The Early Frankfurt School Critique of Capitalism: Critical Theory Between Pollock's "State Capitalism" and the Critique of Instrumental Reason.- Four The Theory and Critique of Capitalism and Economic Ethics in Solidarism (Christian Social Thought): Heinrich Pesch and Gustav Gundlach.- 10 Solidarism, Capitalism, and Economic Ethics in Heinrich Pesch.- 11 Theory and Critique of Capitalism in Gustav Gundlach.- Five Historism in Other Schools of Economics.- 12 Intensive and Extensive Mobilisation in the Japanese Economy: An Interpretation of Japanese Capitalism in Historical Perspective.- 13 The Historical School in Sweden: A Sketch.- Six Historism in Economic Law.- 14 Jurisprudence, History, National Economics After 1850.- Seven Historism, Relativism, and the Critique of Historicism.- 15 KarlPopper's Critique of Historicism, the Historical School, and the Contemporary Debate.- 16 Does Historism Mean Relativism? Remarks on the Debate on Historism in the German Political Economy of the Late 19th Century.- List of Authors and Discussants.- Index of Names.