Business history presents so many problems and opportunities that I hardly know which ones to discuss in the time available or where to start. Perhaps it is well to begin by reminding ourselves just what business history is, for there is a great deal of misunderstanding on this point. I refuse to attempt a precise definition because it seems to be impossible to obtain a satisfactory definition of the term “business” itself, but I think that I can give a fairly clear idea of the scope of the field.

A familiar figure in ancient Greek and Latin literature is the traveling merchant. Sometimes we find him in his work, usually having some adventure, even exploring new lands. Plautus, who lived in 254-184 B. C. and used Greek themes and contemporary figures in his comedies, made such a merchant the hero of his play, Mercator. The play deals with a young Athenian traveling merchant by the name of Charinus.