Georg Friedrich Knapp

Georg Friedrich Knapp (1842-1926) is recognized as a prominent figure in the third generation of the historical school of German political economy, which was led by Gustav Schmoller. He holds a significant position as one of the pillars of the German Historical School, acknowledged by Wicksell. Knapp pursued his studies in political economy at Munich, Berlin, and Göttingen universities.In 1874, he assumed the role of a professor at the University of Straßburg, where he remained until 1919 when...See more

Georg Friedrich Knapp (1842-1926) is recognized as a prominent figure in the third generation of the historical school of German political economy, which was led by Gustav Schmoller. He holds a significant position as one of the pillars of the German Historical School, acknowledged by Wicksell. Knapp pursued his studies in political economy at Munich, Berlin, and Göttingen universities.In 1874, he assumed the role of a professor at the University of Straßburg, where he remained until 1919 when Alsace was returned to France. Prior to the publication of his influential work, "The State Theory of Money," Knapp's scholarly focus predominantly revolved around economic development and agricultural history. He gained widespread acclaim as the foremost authority on German agricultural history during the transitional period to capitalism. Joseph Schumpeter eloquently described him as possessing a remarkable combination of far-reaching vision and meticulous research. It was after this period that Knapp embarked on his ground-breaking endeavour, resulting in the publication of "The State Theory of Money" in 1905. Knapp is credited with founding the chartalist school of monetary theory, which left a profound impact on notable figures such as John Maynard Keynes and influenced post-Keynesian economics, including Modern Monetary Theory (MMT). See less