Business economics – a historical and scientific perspective

Abstract

This chapter elaborates a historical and scientific perspective related to business economics. Apart from considering the specific identity of business economics as such, a fuller comprehension of the scientific character of this subject also depends on the historical development of the subject and the position it occupies in relation to other sciences. This calls for a chronological and interdisciplinary comparison. Although business units were already found in a primitive form in ancient times, the first signs of the development of what would eventually be called business economics are usually associated with the Middle Ages. From time to time, attention was focused on particular types of business units. Whereas development was first characterized by its institutional nature, a second trend that developed almost simultaneously was largely functional by nature. Specific activities or functions within business life were singled out for closer examination. The systems approach as applied in the United States of America is a particularly integrated approach to the life of American business units, irrespective of whether these units are profit-seeking or not.