Economic History: Definition, Methodology, and Key Concepts

Concept and Methodology of Economic History

Economic history, as an epistemological field, seeks to analyze and understand a subject through a scientific lens. The essence of economic history lies in describing the efforts and methods that humanity has employed throughout time to satisfy its needs.

Economic history is an interdisciplinary field bridging history and economics; therefore, all facts and economic doctrines must be analyzed within their historical context. Following the German Historical School and the Methodenstreit, the New Economic History emerged. It can be defined as a social science that examines how humanity has attempted to meet material needs over time, and subsequently, how it has addressed other priorities, such as cultural and ideological needs.

Defining Economic History

Economic history can also be defined as the study of past economies to understand the present. It provides an opportunity to test the limits of economic theories and helps clarify the connections between economic and social variables. Its objective is to analyze changes in economic circumstances over time and their causal relationships with shifting eras, noting how these changes have influenced politics, society, and the economy.

Perspectives from Key Authors

There is no total unanimity among scholars regarding the definition of the field:

• G. Tortella (1987): Views it as an ambitious social science that seeks to understand the "social being" in its temporal entirety. The analysis of growth and economic change is its fundamental object.
• F. Simon (1990): Citing Bahu, a member of the German Historical School, he states that the object of economic history is to present changes in economic circumstances over time and their relation to other historical shifts.
• W. Kula (1973): Believes the field is dedicated to the search for regularities manifested in social activities of an economic character and the factors that provoke them. For him, the economy and society are inseparable.
• C. M. Cipolla (1991): Considers that, in a strict sense, economic history must deal with facts and virtues at an individual or collective level that affect humanity.
• D. C. North (1984): Adds that economic history aims to explain the structures, functioning, and performance of economies over time.