A Short History of Buddhism Dr. Conze succeeds in providing that most difficult of all undertakings in Buddhist literature, a compact summary of the historical development of Buddhism from the time of the Buddha to the present day. He deivides Buddhist history into four great epochs: old Buddhism, which largely coincides with what later came to be known as the Hinayana, the rise of the Mahayana, Tantra and Ch'an (Zen) and the fourth period of conservation which brings us to the problems facing Buddhism today.