Eugen Schmalenbach

Schmalenbach, Eugen

 

Born Aug. 20,1873, in Schmalen-bach, near Halver, Westphalia; died Feb. 20, 1955, in Cologne. German economist.

In 1906, Schmalenbach became a professor at the University of Cologne. In such works as Financing (1915) and Dynamic Balance (1919) he examined questions pertaining chiefly to the theory of balanced accounts and the financing of capitalist enterprises. Elevating the capitalists’ notions about their day-to-day activities to the status of theoretical concepts, he created a “science of enterprises,” which systematized rules for the most profitable management of the economy. Writing as a defender of monopoly capital, he outlined paths for the improvement of accounting, techniques of commerce, commodity circulation, and credit as means of increasing profits and overcoming the contradictions of the capitalist mode of production. An ideologist of “organized” capitalism, Schmalenbach advocated the organization of the economy into trusts with the help of the state.

References in periodicals archive ?
Eugen Schmalenbach made an analysis of financial flows organized in three categories, which corresponds to three categories of flows.
They are Eugen Schmalenbach (1873-1955), Wilhelm Rieger (1878-1971), and Heinrich Nicklisch (1876-1946).
Drawing on the research of Eugen Schmalenbach and others, their training emphasized techniques effective in resolving the reciprocal problems of maintaining enterprise efficiency and solvency.