Business history has a very close connection with economic history of any country. Essentially business history defines the chronology along with dealing the history of the various business organizations, their methodologies and labor relations, the kinds of regulations that had been imposed by the government along with the impact on the socio-economic scenario. In order to support the cases they present they also cite biographies of entrepreneurs, executives along with various kinds of individual organizations. Professor N. S. B. Gras from the Harvard University Graduate School of Business Administration pioneered the Business history in the US in 1927.
The first form of evidences in the field of business history had been in a series of monographs. The term Business History took a huge form in the US during the decade of 1960. This revolution of the subject was lead by a famous and influential scholar by the name of Alfred D. Chandler. He introduced innovative methodologies with valid and justified theoretical explanations. His studies focused on a very small area with a great intensity. He has the credit for publishing some cutting-edge articles, reviews and monographs.
The works of Lamoreaux et al. is also quite important in the Business History of the US. Their work offered a new synthesis in the study of the US Business History. They focused in the various mechanisms that were coordinated to be used for the economy for a particular period. They also provided a comparative analysis of the pros and cons of the various mechanisms that had been used for the alternating economic situations.