Five Reasons for the Use of Network Analysis in the History of Economics

Abstract

Network analysis is increasingly appreciated as a methodology in the social sciences. In recent years, it is also receiving attention among historians of science. History of economics is no exception in that researchers have begun drawing on network analysis to analyze social relationships within scientific communities, the spread of economic theories across fields, the visualization of archival material, or the emergence of subfields within the discipline of economics. While this literature is not yet extensive, a debate is emerging about possible contributions of network analysis towards addressing questions that are pertinent to the history of economics. With this paper, we want to push this debate one step further by identifying and discussing five such contributions. We offer reasons why network analysis should have a future as a methodology in the history of economics. Despite its potentials, however, we also acknowledge several limitations. Specifically, we argue that network analysis is ultimately a complementary methodology in the history of economics. It cannot replace more traditional methods but must rely on them to fully develop its potentials.