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Basic Education Courses | Historical Perspectives in Economic Analysis

There are broadly two methods for understanding economic phenomena. The first is the deductive method, which involves making various assumptions about fundamental economic events—for example, that "the average person acts to minimize costs and maximize utility"—and using these as a premise to theoretically consider more complex economic phenomena. In contrast, the second method, which can be called the inductive method, involves first observing the actual situation broadly and then considering the mechanisms of the economy by analyzing the various phenomena observed. One approach that starts from the actual situation, like the latter method, is the historical method, which involves collecting and analyzing past facts. Attempts to analyze the economy historically have been made repeatedly from various perspectives throughout the development of the social sciences. This lecture will introduce, through practical examples, how both old and new research have analyzed and understood economic history from their respective "perspectives." The goal here is not simply to trace the flow of history, but to learn what kind of research questions (perspectives) researchers have had, what historical materials they have used, and what methods they have employed to write economic history.