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The contradiction between E.W. Streissler and J.A. Schumpeter's diverging responses to Wilhelm Roscher's theory of crisis was investigated. The examination was carried out within the framework of the debate on Keynes, Say's law and classical economics as well as other German economic theories before Roscher's on the role of capital and savings in the general glut debate. Roscher's views on the Say's law debate was also discussed.

The different responses of Carl Menger and E. von Bohm-Bawerk to Wilhelm Roscher's economic theories represents their different theoretical contributions to the development of interest theory. To support this argument, a comparison of Menger's use of theoretic assumptions to 'explain the value productivity of capital directly from the physical one' and Bohm-Bawerk's agio theory and his experiences in the Finance Ministry.

Several factors account for the enthusiastic reception of Wilhelm Roscher's ideas about economic theory, methodology and the history of economic thought in the US. One major reason is the lack of an American economic tradition which led economists to borrow heavily from German economic thought. Moreover, William Cunningham's essay explaining the lack of acceptance of Roscher's philosophies in the UK, Roscher was not wholly rejected in the UK.

The 'Methodenstreit' between the Austrian school and the historical school of economics did not arise out of misunderstandings, as is generally assumed, but arose out of dissimilar solutions to epistemological and methodological problems. To support this argument, a reformulation of Roscher's position is contrasted with C. Menger's views. From this, it is seen that the 'Methodenstreit' resulted from Menger's response to Roscher's solution to a demarcation problem for the social sciences.

Economists employed different techniques in making their presentation of an economic theory effective and convincing. They manipulated the English language to serve their purpose and resorted to economic rhetorics in their effort to appear credible. Mathematical models and statistical estimation techniques were rarely employed. Instead, profound and lengthy discussions became the foundations of economic thought.

A study on the economic theories proposed by Karl Knies based on general economic course in 1886 at Heidelberg, and his influence on Austrian economists Friedrich Wieser , Eugen Bohm-Bawerk and Max Weber is presented.

Research is presented describing the impact on modern day economic theory of the works of Hermann Heinrich Gossen who lived in Germany during the early nineteenth century.

The works of mathematical economists William Stanley Jevon, Carl Menger and Gustav Schmoller are discussed.

Research is presented describing the history of economic development through the growth of compound interest with some evidence pointing to such techniques being used in 2,000 BC in Babylon.

Historical research is presented describing the study of economics dating back to the eighteenth century and how mathematics and physical sciences were employed by economists to develop theories.