Are Business History and Economic Theory Compatible?1

Donald E. Stout

Business History Review, 1955, vol. 29, issue 4, 285-297

Abstract: The pragmatic approach adopted by business historians has inhibited utilization of their findings for theoretical purposes. Economic theory, at the same time, has hitherto provided no apparatus for attacking a whole range of problems deemed vital by historians today. The consequent breach between business history and economic theory, however, may be bridged by the development of new theoretical tools. Linear programming, statistical decision theory, and the theory of games are examples of arenas where the skills and interests of historian and theorist can converge.

Date: 1955
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