Little is known about the logic of lending transactions and the development of credit markets in Mexico, or the rest of Latin America, prior to banks. We know even less about what role financial intermediaries played in these pre-banking markets, or who these intermediaries were. This article analyzes the intermediary role notaries played in the long-term credit market in Yucatan, in southeastern Mexico, in the nineteenth-century. Using a unique dataset of mortgages from the notarial records in the Yucatan state archive, the article shows that, in the absence of banks, notaries facilitated access to credit, and that, in the institutional and political context of Yucatan, both entrepreneurship and monopoly were being fostered.

The article analyzes the relationship between entrepreneurial philanthropy and the competitive process. Competitive conditions interacted significantly with entrepreneurial responses to ethical problems posed by the rapid emergence of factory production following the British Industrial Revolution. Entrepreneurs’ attitudes toward regulation and the labor process are used to identify the major differences and similarities in competitive behavior. These variations are explored using nineteenth-century case studies highlighting examples of philanthropy and competitive behavior. The analysis leads to a typology showing that entrepreneurial philanthropic behavior is conditioned by business strategy variables: specifically, combinations of technological and labor resources controlled by individual entrepreneurs and their businesses.

Although it has a durable institutional shape, the operation of capitalism takes different forms across space and time with varying distributive effects. This article contributes to a growing literature considering the successive forms taken by capitalism in the developed democracies since World War II. It develops a distinctive conception of these forms as “growth regimes” that are mutually constituted by the core practices of firms and reinforcing public policies specific to each historical era. The movement of firm practices and government policies is then examined with a view to identifying the growth regimes of three postwar eras of modernization, liberalization, and knowledge-based growth.

In 1910, Louis Brandeis claimed that scientific management could save the railroads a million dollars a day and avoid a rate increase. While Brandeis's claims are well known, historians have neglected the influence of scientific management on the railroads. In 1904, Harrington Emerson introduced repair scheduling techniques in the locomotive shops of the Santa Fe. Scheduling revolutionized repair, and–esponding in part to the regulatory pressures Brandeis helped create–by 1925 most major railroads employed it. In the 1920s, the carriers imported a second new management technique–the “progressive” system that focused on material flows, and introduced batch production techniques to car and locomotive repair. Collectively these methods prevented transportation bottlenecks, raised labor productivity, and reduced capital requirements.

The following article traces TVA director David Lilienthal's efforts to establish the Electric Home and Farm Authority the Tennessee Valley and analyzes the outcome of that program in the early 1930s. The essay demonstrates that, contrary to some interpretations, administrators like Lilienthal were advocating state-sponsored consumption-driven economic growth well before the late 1930s.

Because of Alfred D. Chandler Jr.'s widely influential books and articles, historians of management and of business have often taken a firm, especially a manufacturing firm, as their unit of analysis. Despite its usefulness as an organizing concept, the firm-based approach does not take into consideration the management of networked systems, which have spread widely and posed major managerial challenges in recent decades. In the following essay, I shall compare the firm and the networked-systems approaches, but first I should stress that I am not dealing with networked systems in general, which are numerous and vary greatly in form. My attention, instead, is focused upon networked electric-power systems.

George Horace Lorimer, editor of The Saturday Evening Post from 1899 to 1937, dedicated his magazine to business, businessmen, and business values. As part of an early campaign to increase the Post's circulation, the Curtis Company extended their interest to the businessmen of the future. The Circulation Bureau devised a plan of recruiting middle-class boys, training them in selling techniques, and educating them in business values. Victor Pelz, a boy agent recruited in Seattle, soared to selling stardom between 1902 and 1905. During those years the Post wrote him hundreds of letters, exhorting, praising, sometimes chastising. In Victor's career and in this surviving correspondence are inscribed the business ethic of the early twentieth century with all its promise and all its contradictions.

In our day, when the question of how and to what extent and by whom economic activity should be regulated is wide open as between legislative, executive, and judicial branches of government and a galaxy of highly developed private interest groups, the traditional Progressive idea of the just and all-wise commission as final arbiter seems dated. Mr. Ritchie shows that it was an idea to which James M. Landis clung enthusiastically, largely as a result of his experience on the Securities and Exchange Commission, until his later experience as Chairman of the Civil Aeronautics Board and finally as a lawyer representing one of the parties at interest before the Board. From the mounting evidence that a successful regulatory function grows, if at all, out of an appreciation of the economic realities of the particular activity being regulated, may yet come a national policy to which all may repair. Piling up such evidence is one of the most valuable public services the historian can render.

Successful technological change in countries outside the northern Atlantic during the nineteenth and early twentieth centuries depended on entrepreneurial skills, not inventive expertise. In this examination of the Owens automatic glass-bottle-blowing machine in Mexico between 1905 and 1912, innovation is seen to have occurred within a broad context of incipient social and economic modernization. Although the obstacles encountered by technology importers and innovators were both substantial and stubbornly persistent, in this case, they turned out to be malleable.

The corporate history of Ford in Malaya from 1926 to 1957 reveals Ford Canada's global strategy to tap new British colonial markets. A combination of factors motivated Ford Canada to set up a subsidiary in Malaya, whose subsequent domestic sales and marketing success depended on maintaining mutually beneficial relations with the local merchant firms and Chinese entrepreneurs. After it was directed by the parent company to restructure its operations, Ford Canada imposed tight control on its own local operations to ensure that it could meet evolving consumer demands in Malaya and across the wider region. However, the company was careful to maintain its ties with these marketing and networking channels.

Over the last fifteen years, scholars have documented the rapid development of the U.S. financial system between the ratification of the Constitution in 1788 and the Civil War. To date, most of this work has concentrated on commercial banks and securities markets while neglecting the roles early marine, fire, life, and other insurers played in American financial and economic development. This article seeks to redress the balance by presenting new data on the number and authorized capitalizations of specially incorporated insurers in all states prior to 1861, by analyzing agency problems within the insurance industry, and by describing the economic roles fulfilled by those hitherto underappreciated corporate financial intermediaries.

This study of the American impact on German consumer credit reveals that the notion of post–World War II Americanization emerging through credit-induced consumption is more complicated than has been previously acknowledged. The postwar debate in Germany over consumer credit as an American import had antecedents in a longer, previously overlooked, history of consumer credit. Moreover, the concept of Americanization remains misleading from a comparative perspective: First, examples of indigenous German institutional consumer lending predate the postwar period. Second, differences in both the forms and quantitative weight of consumer lending defy the notion of convergence. Third, different social and political contexts prevented a wholesale adoption in Germany of an American model of credit financing, despite repeated transatlantic transfers.

Headquartered in the United States, the Singer Sewing Machine Co. did business all around the world in the early twentieth century. It regularly encountered wars, economic nationalism, and revolutions; in response, it normally created subsidiaries or gave in to expropriation. After the revolution in Mexico (1910–1920), Singer's marketing organization maintained normal operations and even prospered. The company succeeded, in part, by constantly associating the sewing machine with the idea of “modern” womanhood in Revolutionary Mexico. By revealing Singer's marketing strategies and focusing on gender, this article shows that multinational corporations and Latin American governments were not always at odds and could sometimes forge a profitable relationship.

Warren Buffett famously commented that the U.S. airline industry had made zero profit in its first nine decades. Subsequently, between the millennium and the Great Financial Crisis the airlines in total lost almost $60 billion. Yet no major airline was liquidated or taken over in those nine years. Financial support was repeatedly provided by GE, the conglomerate supplier of leasing finance, engines, and servicing. The article offers a historical perspective on the factors behind this relationship between GE and airlines. It outlines the benefits or costs to GE, airline shareholders, and passengers; the relevance of the model for other industries; and implications for different notions of efficiency.

Faced with a labor shortage at a crucial point in the industrialization of Japan, tradition-oriented businessmen reacted not by raising wages but by longing for the authority-ordered labor relations of the past. Given this situation, the Meiji government moved to improve working conditions through non-economic means. Professor Taira shows that the debate over proposed factory legislation, along with the coming-of-age of a new generation of entrepreneurs, produced a “conversion” to modern management among businessmen of the late-Meiji generation.

Focusing on the Caigo Fleet Iron Company and its local competitors in Britain's Northeast, this article examines one company's response to changes in the steelmaking environment. By providing data at the firm level, the article is able to highlight specific contributing factors that are often invisible when scholars discuss Britain's industrial decline in the aggregate.

The steel industry has been criticized for unnecessarily provoking the lengthy 1959 strike that allowed steel imports to penetrate the United States market. The industry demanded from the union the revision of a collective bargaining clause that protected local working practices. Historians have viewed the clause as inconsequential and the industry's demand for revision unnecessary. This article explores the US Steel Corporation's history of cost reductions and modernization during the 1950s in relation to this contract clause. It argues that the corporation's 1959 bargaining stance, although tactically flawed, made strategic sense given US Steel's decision to cut costs through crew reductions and incremental technological changes at its older mills.

In the following article, Professor Derickson examines the motivation for and the results of employee medical screening of workers in a midwestern mining community. He argues that, contrary to the goals of the associative state as envisioned by Herbert Hoover and others, government and mine operator efforts to determine the extent of respiratory disease among mine workers in the Tri-State were neither impelled by a concern for workers' welfare nor conducive to the amelioration of their problems.

In the half-century following the American Revolution, journalists and promoters of economic activities wrote paeans to the independence movement, celebrating its release of economic energies and anticipating that it would enable citizens to improve, produce, and consume more and thus sustain their virtuous republican character as a people. Writers predicted that imminent prosperity would result in the construction of mills, forges, and retail networks throughout the hinterlands; they envisioned boldly experimental internal improvements and expanding commerce under the independent auspices of the newly formed states and locales. Liberated Americans could look forward to blending certain kinds of regulatory protections and government encouragements, such as they had experienced under the rule of the empire, and to the aggressive pursuit of economic opportunities: creating new kinds of taxation and currency systems, expanding commerce to foreign ports, extending agriculture to the limits of available technologies and capital, and testing modest manufactures. For two generations following the Revolution, until at least the panic of 1819, many optimists were confirmed in their expectations of a bright future for the new nation's economy, and they embraced the risks involved in mobilizing tremendous amounts of human energy and capital because they believed that economic development would resolve foreign nations' doubts about the new republic and obliterate the crushing debts and dislocations of the revolutionary war.