Adolph Wagner

Adolph Wagner (25 March 1835 – 8 November 1917) was a German economist and politician, a leading Kathedersozialist (academic socialist) and public finance scholar and advocate of agrarianism.

In 1865, he took the chair of Ethnography, Geography, and Statistics (in reality an economics professorship) at the University of Dorpat in Livonia which is located in the present day Estonia, but was then part of the Russian Empire.

However, he did fundamentally differentiate himself from what he called the 'younger' and more 'extreme' members of the German historical school such as Gustav von Schmoller who, according to Wagner, tended to dismiss too hastily what the latter terms the more deductive work of English writers (in short, those in the tradition of classical economics, including the famous contemporary Cambridge University Professor Alfred Marshall whose book he was reviewing).

In the 1890s, Wagner would so enrage an industrial-conservative member of the Reichstag, likewise with a defense of the Kathedersozialist influence within the university, that the deputy challenged him to a duel.

His works set the stage for the development of the monetary and credit systems in Germany and substantially influenced the central bank policy and financial practice before World War I.

Adolph Wagner by Nicola Perscheid c. 1910