From Melmott to Madoff History in the (re)making
History" has never enjoyed a peaceful existence. There has been a constant struggle over the primacy of ideas. The tacit agenda of mainstream history is often to elevate version of the victors, and defend the status quo. A few years ago, doctoral students attending an American Accounting Association colloquium were informed by an eminent (tenured) professor that nothing in THE ACCOUNTING REVIEW older than 5 years was worth reading. "Classics" never appear on the usual doctoral curriculum. Aristotle, Plato and Socrates are dead-and-buried. These, and their fellow texts, have been displaced by ‘modern math’ that has erected its own hermeneutically-sealed home-spun standards of ‘relevance’, ‘truth’, ‘validity’ etc. Mainstream market studies routinely report R-Squares, often of minuscule explanatory size, as ‘confirmation’ that their hypothesis has not been rejected (and therefore, by implication) remain ‘true’.
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