The fundamental fact about Britain in the first two generations of the Industrial Revolution was, that the comfortable and rich classes accumulated i… - Eric Hobsbawm

The past is therefore a permanent dimension of the human consciousness, an inevitable component of the institutions, values and other patterns of human society. The problem for historians is to analyse the nature of this 'sense of the past' in society and to trace its changes and transformations.

From the historians' point of view these assumptions must be realistic or they are junk. If we use the assumption of perfect foresight by businessmen to construct data, the question of its empirical validity is crucial. Altering the assumptions, whether about the model or about the data, can make a substantial difference to both the data and the answers.

It is in this situation that political partisanship can serve to counteract the increasing tendency to look inwards, in extreme instances the scholiasm, the tendency to develop intellectual ingenuity for its own sake, the self-insulation of the academy. It may indeed fall victim to the same dangers itself, if a sufficiently large 'field' of a self-insulated partisan scholarship develops.