American business history through the eyes of Thomas Cochran

Abstract

Thomas Cochran's views on the growth and development of business are tied tightly to the concept of a national culture. He acknowledged that business can take many forms and having many definitions and chose to define 'business' as "the generic term for the interrelationships of men and machines that have led to socio-economic change." He also suggests the existence of different types of businessmen and the ambiguity of that term by defining it as "anyone who participates in decisions for organizing the production and distribution of goods and services for profit." This vague definition places small proprietorships in the same category as Fortune 500 companies, however despite the broadness, Cochran considered only a small percentage of Americans throughout history true businessmen.