During its early years, entrepreneurs in the Italian film industry maintained a complicated relation with the state. The arrangements between the joint-stock company Società Anonima Stefano Pittaluga and the Italian government in the interwar period were typical. Initially, Italian banks financed productions, despite the difficulties entailed in assessing a film's potential profitability. Following the rise of Benito Mussolini, the state invested in the industry, viewing it as a means of building nationalism and shaping the country's culture. While the deal was disastrous for the quality of the films, it nevertheless enabled filmmakers to gain technical experience and acquire production facilities that they were later able to put to better use.

This issue of Business History Review is devoted to financial crisis, business failure, and scandal. As readers of this journal know, white-collar fraud is not a new phenomenon. Public and private authorities have confronted the problem for a long time, looking for ways to deal with it that will not stifle economic growth.

Now considered a quintessential Hong Kong household food product, Vitasoy won the approval of local consumers only in the post–World War II period as its producer capitalized on the discourse of modern nutritional science, leveraged technological breakthroughs, and positioned the soy beverage to respond to a growing clientele experiencing economic growth and lifestyle transformation. In the emerging market and sociocultural conditions of postwar Hong Kong, Vitasoy's producer created a local beverage that articulated for the city a modernity that originated in a Chinese national discourse but then blossomed into a celebration of the lifestyle that economic progress enabled.