One of the leading experts on the history of multinational enterprise, Mira Wilkins here sets forth the history of American multinational investment in Japan and Japanese multinational investment in the United States during two crucial decades. The tumultuous years from 1930 to 1952 forced these companies to deal with the vastly different challenges of depression, war, and peace. Professor Wilkins explains how they adapted to their changing environment. She also provides noteworthy support for the view that cross-investment was not symmetrical.

Genstar Ltd. of Canada provides a superb case study of the relationship between the strategy a corporation chooses to pursue and the organizational form which it adopts. Genstar had originally operated as a holding company. But its managers came to understand that the advantages that form provided were outweighed by the problems it posed given both the general goals of Genstar's parent, the Société Générale de Belgique, and the particular opportunities and obstacles presented by the Canadian business environment since World War II. The result was the adoption of the multidivisional form.

Mobilization for World War I carried the United States government into an unprecedented role in the American economy. Entire industries came under the regulation, if not outright control, of new federal boards and bureaucracies. Although this was a vast departure from American tradition, it was naturally justified by the exigencies of global warfare. Platinum was hardly a well-known commodity, but it was indeed a strategic metal that came into increasing demand as burgeoning military needs overwhelmed consumer uses. The result was that platinum gradually came under federal controls. Domestic supplies were limited, however, and as the war continued, worried federal officials looked abroad for additional sources in case of a prolonged conflict, a turn of events that subtly carried them far beyond the ken of domestic regulation. In this article professors Lael and Killen look in detail at the development of platinum controls. Aside from presenting a case study in the evolving relations between business, government, and international politics, they offer new insights into the philosophical assumptions and managerial skills of those who ostensibly masterminded the American economy during World War I.

By the onset of the Great Depression, the big four tire manufacturers had long become the dominant force in the American rubber industry; yet they did not have a monopoly. A substantial number of smaller firms had managed to survive, however tenuously, although their decline had continued through the hard times of the 1920s and their plight grew worse with the onset of the Depression. Like their giant rivals, however, the small, unintegrated firms serving limited markets sought to survive at least in part through the help of new federal agencies as well as with the aid of traditional institutions. In this article, which analyzes the story of the McCreary Tire & Rubber Company, Professor Fricke presents a view of the economic crisis from the perspective of small enterprise. If the experience of this manufacturer can be generalized, as Fricke suggests, small business not only had a different attitude toward the expanded role of government but also emerged from the Depression changed in the ways that it did business, a result of its experience with the new federal agencies and the economic crisis itself.