Historical School

The political significance of the work of the Historical school consisted in the fact that it rendered Germany safe for the ideas, the acceptance of which made popular with the German people all those disastrous policies that resulted in the great catastrophes. The aggressive imperialism that twice ended in war and defeat, the limitless inflation of the early 1920s, the command economy and all the horrors of the Nazi regime were achievements of politicians who acted as they had been taught by the champions of the Historical school.

Austrian Economics: An Anthology, p. 67