ABSTRACT
A common way to measure the value of scholarly work is by the volume and quality of research it inspires. By such a standard Alexander Gerschenkron stands out among contemporaries. Only a handful of post-1945 economic historians have stimulated such an outpouring. Much was highly critical, but his approach remains and no alternative has taken its place. Those whose teaching and research benefited from Gerschenkron’s seminal ideas are obliged to evaluate ‘where we stand’ after a quarter century of Gerschenkron-inspired scholarship.1 What remains of his approach to European industrialization? What are the outlines of a new approach? Answers will be a partial response to the challenge implicit in Gerschenkron’s question: ‘What more can be expected of any historical hypothesis than to have stimulated research to the point of becoming the stepping stone to a new hypothesis and to new research?’ (Gerschenkron 1962:364).
