Histories that matter: The case for applied economic history

Christopher L. Colvin and Johan Fourie

No 26-01, QUCEH Working Paper Series from Queen's University Belfast, Queen's University Centre for Economic History

Abstract: We define applied economic history as the systematic use of historical reasoning to address economic policy problems. Building on work in applied history, we argue that economic history contributes to policy not by offering ready-made lessons, but by disciplining the narratives and analogies that policymakers and the public use. Unlike conventional economic history, which begins with a past episode and asks explanatory questions, an applied approach starts from a current problem and works backwards to identify relevant historical parallels. Selecting cases, however, is only the first step: their policy relevance depends on the narratives through which they are interpreted and put to use. We synthesise work from narrative economics, organisational history, and media and memory studies to clarify how historical narratives are conceptualised as shaping beliefs and behaviour, but also how they mislead when stripped of context. Applied economic history therefore requires careful narrative construction, standards for comparison, attention to difference as well as similarity, and transparency about uncertainty. We conclude by outlining how changes to training, incentives, and institutions could support engagement by economic historians with policymaking.

Keywords: applied economic history; analogical reasoning; policymaking; narrative economics (search for similar items in EconPapers)
JEL-codes: B41 D78 H11 N01 Z13 (search for similar items in EconPapers)
Date: 2026
New Economics Papers: this item is included in nep-hpe
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:qucehw:335019

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