A case study of the development of quantum field theory and of S-matrix theory, from their inceptions to the present, is presented. The descriptions of science given by Kuhn and by Lakatos are compared and contrasted as they apply to this case study. The episodes of the developments of these theories are then considered as candidates for competing research programs in Lakatos' methodology of scientific research programs. Lakatos' scheme provides a reasonable overall description and a plausible assessment of the relative (...) value of these two programs in terms of progressive and degenerating problem shifts. Also discussed are the roles of various types of models as they have been used in these areas of theoretical high-energy physics. (shrink)