The important role of American business interests and technical assistants in Kemalist Turkey's drive for economic modernization forms the basis for an excellent illustration of the interaction of governments and businessmen in developing countries.

This article examines the statistical work done by Leonard Porter Ayres for the Council of National Defense during the First World War. Director of statistics for the Russell Sage Foundation when war was declared, Ayres immediately volunteered his own and the foundation's statistical expertise. The article focuses on the first year of American intervention in the war and argues that Ayres's important statistical work evolved in three overlapping but distinct stages. The structure of the American state, however, confounded the wider ambitions of Ayres (just as it had those of his rival Edwin Gay) to centralize all government statistical data.

This essay examines the origins of a managerial class in American business by exploring the dynamic economic and cultural milieu in which merchants and clerks forged apprenticeship and employment relations in eighteenth- and nineteenthcentury northeastern cities. Apprenticeship unraveled as an institution in countinghouses and stores throughout this period, a casualty of the Revolutionary-era narrative touting economic opportunity and independence through the cultivation of character. Increased competition for clerkships in the early republic led to the establishment of waged relationships shorn of traditional obligations. Yet in an uncertain economic climate, apprenticeship endured in idealized form within an antebellum cultural debate about the meanings of success and the ways to achieve it. As clerks' work tasks, social status, and economic prospects changed, many attempted to hitch their hopes for advancement to the coattails of merchants with capital instead of starting their own businesses, decisions that foreshadowed the formation of corporate hierarchies in the late nineteenth century.

This comparative study deals with objectives, administration, and portfolio policies of two banks that were among the earliest institutional lenders in America. Founded to assist the “frugal poor,” both banks faced the handicaps of provincialism, capital immobility, and regulation in their efforts to enlarge their services to the community. Both contributed much to a growing public understanding of banks and banking.

The dominant paradigm in business history has for many years been the synthesis developed by Alfred D. Chandler, Jr. Like most paradigms that define a field of scholarship, Chandler's has attracted swarms of devotees and critics, and for some years, it was customary to perform a ritual bow toward his work in the first or second paragraph of any article appearing in the Business History Review. This was true whether the substance of the article appeared to support or contradict Chandlers concept of the development of modern private enterprise.

It would be folly to defend the conception “Latin America” too strongly. In a large area of twenty-odd republics, diverse in geography, resources, and ideologies, and where personalismo has been both a national and individual creed, generalizations tend to crumble when wielded too forcibly. Yet there are common ties of hemisphere, colonial heritage, language, law, and, to some extent, experience. The history of “Latin America” and its constituents is a recognized field of endeavor and will always sustain further study.

No American presidency in this century has inspired quite so much controversy as the turbulent administration of Franklin D. Roosevelt. Even now, on the one-hundreth anniversary of his birth, and nearly fifty years after the coming of the New Deal, the contentious debates sparked during his four terms as chief executive are no less the subject of argument among historians than they were among the adversaries of the day. One issue in point is the question of antitrust, particularly the principles and practices of Thurman Arnold, who headed the Antitrust Division of the Justice Department during the later stages of the New Deal. While this essay will hardly resolve the contumacious debates over the policies of either Arnold or Roosevelt, Dr. Miscamble nonetheless offers some surprising, but persuasive, evidence about the internal workings of the administration, the antitrust philosophy of Roosevelt, and the remarkable practices of Arnold, the law professor turned antimonopolist.

As a notable instance of British investment in protectionist Meiji Japan, the history of the Takashima coal mine well illustrates the complications of foreign capital commitments in the Far East during the nineteenth century.

As the end of the era of abundant natural petroleum oils approaches, the United States finds itself heavily committed to a way of life based on cheap liquid hydrocarbon fuels. Whether such fuels will be available at any price in adequate quantities in the future, is the question today. Professor Vietor shows that it was also a serious question for some years after World War II, and that the United States carried a long way towards definitive demonstration a program for the development of high-volume synthetic liquid fuels production techniques. What that program accomplished; how the interests, public and private, who were responsible for the American fuel supply reacted to it; and why it was shelved for 25 years are among the points Vietor covers. The reader is left to weigh for himself the several reasons why this program was sidetracked, but he can hardly fail to conclude that where such fundamental matters as energy policy are concerned, American planning has been distressingly short range.

This article explores some of the methods used to raise credit in an important trading region of late medieval England during a decline in overseas trade and an international bullion famine. It argues that, because provincial credit arrangements depended on local as well as national factors, a combination of demographic and regional circumstances contributed to the commercial weakness of Yorkshire merchants as they faced growing competition from Londoners with access to more sophisticated financial networks.

Global maritime business networks channeled the flows of people and goods for modern production and consumption societies. The principal instrument for constructing and sustaining these networks was the business trip. In the course of their travels, shipping-company and trading-company executives founded new commercial networks, established new routes and services, inspected agents, gathered business intelligence, and promoted new contacts and connections. These trips relied on a business culture that combined cosmopolitanism with national preferences and competitiveness with gentlemanly codes. Personal relationships remained fundamental to the networking process, despite a bureaucratization of business structures. An examination of the business trips of Belgian, British, Dutch, French, and German maritime firms reveals the centrality of global networks in modern economies, shows how such networks were constructed and maintained, and argues that face-to-face relationships continued to characterize business life deep into the twentieth century.

The extent to which the inheritance of British rule in Burma, including Burmese perceptions of that inheritance, might explain Burma's economic failure since independence is explored. Several factors came into play. One was the ferocious rejection of the economic structures of colonial rule by the Burmese. Another was the failure of Burmese entrepreneurs– who had been in a position to achieve little beyond dominance over the rice field–to emerge during the colonial period. Finally, there were the implications for independent Burma's economic options of the withdrawal of Indian capital, enterprise, and commercial experience, which had been a dominant factor in the colonial economy, at the point when Burma regained its political freedom.

The history of mining enterprise has recently become an important growth industry in both African and British Commonwealth business history. A number of important multinational mining corporations have in recent years opened their archives on assimilated or restructured parent companies active in overseas enterprise in the first half of this century. In the following essay, Professor Dumett surveys the extensive holdings of the leading British gold mining company in West Africa, the Ashanti Goldfields Corporation.

Is there a “military-industrial complex” in the United States? What is the relationship between business, government, and the military with its needs for vast quantities of goods and services? How has organization for war and defense changed since the demands of World War I first made such questions important? How much do we know about what actually happened between World War I and Vietnam to change the relationship between private and public organizations? Professor Cuff discusses the complexities involved in trying to answer such historical questions, and prescribes a professional historian's regimen for future work on this subject.

Operating in an economy that was still primarily export-import based and in a cultural environment suspicious of all business interests, members of Brazil's nineteenth-century business elite laced many obstacles to legitimizing their activities. Ironically, erforts to win acceptance tended to fragment business groups and eventually opened the way for a new industrial bourgeoisie at the expense of the overseas traders.

The “de-industrialization” of Britain since the 1970s and the emergence of a negative balance of payments in manufacturing in the early 1980s have provided a receptive context for accounts of failure in British business and the British economy. We have political economies of decline;2 powerful polemics against the British elite; and a range of historical explanations of the decline of industries and firms. Although the agenda for much British business history is still dominated by the issue of “decline” it is clear that the whole issue needs clarification. First and foremost much discussion of decline relies on a failure to be clear about the difference between absolute and relative decline, a failure to differentiate between relative decline and “doing badly,” and on faulty and partial international comparisons. Hannah is rightly worried by a brand of history which “explains an outcome which never happened…by a cause that is equally imagined.”

The article is a rare investigation into multinational activity in a wealthy resource-based colonial economy toward the end of the first wave of globalization. It challenges the conventional wisdom that multinationals had a limited presence in pre-1914 Australia, where government loans and portfolio investment from Britain into infrastructural and primary industries dominated. Our new database of nearly five hundred foreign firms, from various nations and spread across the host economy, shows a thriving and diverse international business community whose agency mattered for economic development in Australia. Colonial ties, natural resources, stable institutions, and high incomes all attracted foreign firms.

Recent literature on philanthropy and business has focused on the returns to businesses and entrepreneurs from giving. In this article, we show how historical context impacts the motivations and organizational forms created over time in philanthropic giving that effect and affect such returns. We do this through the prism of the changing ownership structures in the Scotch whisky industry in the twentieth century using an institutional theory lens. In doing so, we capture the story of three sisters who inherited a Scotch whisky business in the 1940s and transformed it into a hybrid philanthropic-commercial vehicle that remains in operation today. We present an extended theoretical model illustrating the interplay of context, motivation, and organizational structure over time on exchanges of capital in entrepreneurial philanthropy.

British electrical manufacturing provides important insights into international business history and demonstrates the key role of cross-border networks and agreements in its emergence. This article analyzes the factors that shaped phases in the industry's development and international operations. In doing so, the article reappraises electrical manufacturing's early decades in Britain; it shows how a changing political landscape transformed the strategies and ownership of firms, and reevaluates the industry's restructuring during World War I and its immediate aftermath. Further, the article questions accounts of British electrical manufacturing's failure in the 1920s and discusses the return to strategies of cross-border networks and agreements. Finally, it considers the lessons of British electrical manufacturing's emergence and subsequent consolidation, weighing the influences of firm-level, national, and international factors.