This paper aims at an analysis of Ssu-ma Ch'ien's views toward profit-making and civil economic activities on the basis his Historian's Records (Shih Chih). Comparison is also made between Ssu-Ma Ch'ien and/or Pan Ku and Hsi.in Tzu in regard to their economic thought. It is argued that the contrasts between Ssu-ma Ch'ien and Pan Ku lie in the followings: (1) Ssu-ma Ch'ien confirms the place of merchants in history while Pan Ku denounced businessman for corrupting social norms and stability; (2) Ssu-ma Ch'ien asserts that profit-making is of human nature while Pan Ku oppose it; (3) Ssu-ma Ch' ien affirms economic liberalization while Pan· Ku insisted that state control over commercial activities. This paper concludes with three major points pertammg to Ssu-ma Ch'ien's views of wealth and profit-making: (a) profit-making is of human nature, (b) economic independence and freedom of market are necessary, and (c) businessman must employ commercial strategies and contribute to social welfare. All these three views convey implications for modern society.