In this article, we examine the decisions made by corporate executives and government officials that led to the discharge with minimal treatment of hundreds of metric tons of dichloro-diphenyl-trichloroethane (DDT) waste into the Pacific Ocean over several decades. After World War II, Montrose Chemical Corporation of California's Los Angeles plant began making the new wonder pesticide, and Montrose executives worked with local officials to develop a waste disposal system that funneled the plant's process wastes into the county sewer system and ultimately into the ocean. Faced with increasing scientific concern about pesticides and a changed political climate in the 1960s, Montrose vigorously defended DDT and relied increasingly on exports to remain profitable. Years after the plant closed, a federal suit forced Montrose and related companies to pay the costs of environmental cleanup.

This article contests the view that “stages of development” determine a uniquely appropriate set of production and marketing strategies for a given industry in a given period. Looking closely at the British automobile industry after World War II, it instead presents the argument that opportunities for significant choices between more or less flexible technologies and organizational forms constitute a continuous feature of modern economic history. Moreover, piecemeal borrowing and selective adaptation have been more common than wholesale imitation of any particular system, and modification and hybridization of imported technologies represent not resistance to “foreign” elements, but creative attempts to fit those elements to local conditions.

In the aftermath of World War II, Japanese companies looked to the United States as a model of middle-class, consumer-driven prosperity. Although living conditions in Japan were very different from those in the United States, Japanese companies imported product technologies and management techniques that helped them realize their vision of a mass consumer society. For electrical goods companies, the countryside represented a special challenge, as conservative values and traditional family structures hindered sales. In time, however, electrical goods companies were able to overcome these obstacles, and in the process they became major players in the transformation of peasants into consumers.

Few industries are as widely associated with the spread of American values, ideas, and products as the film industry. U.S. firms certainly dominated the global market for feature films, but did they do so simply by “selling America to the world” or was there more to be gained by catering to the diverse tastes of international audiences? This article examines the operations of a leading U.S. film distributor in its largest foreign market. United Artists, like other U.S. firms, was forced to offer a minimum proportion of British films for distribution in the United Kingdom in the 1930s and 1940s. Was this requirement a burden, or were the firm’s British films actually at the heart of its success in the U.K. market?

Historians, in general, and historians of the trans-Mississippi West, in particular, have paid scant attention to the Panic of 1893 except to summarize its highlights: the silver-mining industry collapsed; banks and businesses failed; unemployment increased; labor rebelled—sometimes violently; and the Populists gained political ground. Some historians of the American West have given the panic a miss entirely

One could make a career of throwing darts at the work of Alfred Chandler. I don't mean just criticizing him. You could take the pages of Chandler's books, paste them up on a wall, and start throwing. Almost everywhere a point struck would be a little gem of business history to draw your interest.

Capability Brown cannot be identified as the originator of modern landscaping, yet he created a business that achieved an unrivaled impact, outshining those before, during, and after his lifetime. Whether Brown was a great artist, opinions may differ. However, there is evidence that Brown was an outstandingly successful businessman. From humble origins, Brown ultimately created a business that seized the lion’s share of the landscaping market of Britain’s elite in the second half of the eighteenth century, counting half of the House of Lords as his clients. A study of Brown’s surviving account book, bank ledgers, and personal correspondence provides new insight into the rapid development, vast scale, and nature of his business. This research shows that commissions were not just gained due to his skills in landscaping, but through his exceptional business acumen, his method of operations, organizational structure, focus, work ethic, and ability to develop contacts and win trust with both the aristocracy and ultimately the King of England. What emerges is a picture of Brown as an entrepreneur of considerable skill, enabling him to uniquely build a national landscaping business.

In early December 1923 in Memphis, Tennessee, Minnie Geddings Cox sat in a hastily arranged board meeting across from Heman Perry, clear now that the man she had believed her advocate was most assuredly her adversary. Cox and Perry, a man Forbes magazine would describe in 1924 as the richest Negro in the world, spent nearly a year maneuvering a merger to join her company, Mississippi Life Insurance Company, the third largest black-owned life insurance company in the United States, with his Standard Life of Atlanta, which ranked second.1 They shared a vision to create the largest black-owned life insurance company in the United States—or so Cox thought.

New perspective is provided on a critical period in the development of the Canadian automotive industry. In the 1980s, five foreign manufacturers built new vehicle assembly operations in Canada, effectively transforming that country’s automotive industry. Drawing from a combination of interviews with key actors and a review of archives, this case study makes several contributions. First, gaps are closed in the economic history of one of Canada’s most important industries. Second, the case demonstrates the capacity of using historical perspective to extend an existing theory to a new area of inquiry. In this case, Multiple Streams Theory is employed to explain the process of inward FDI attraction. This includes a description of the role of policy entrepreneurs and their capacity to create and exploit opportunities. Third, the case demonstrates the continuing relevance of integrating historical perspective to contemporary issues in business, management, and public policy.

This article investigates the change in relations between Parisian haute couture and the French textile industry in the 1950s and 1960s. This study is grounded in the multiple changes that occurred between the two decades with the end of a state-sponsored and textile-backed aid to couture plan in 1960, the dematerialization of fashion in the 1960s and the advent of brands and licenses, and the waning of couture’s influence throughout the period. It cross-references archives from multi-stakeholder meetings between the state, couture, and textile representatives with the couturiers’ trade association archives and diplomatic archives to show how the changing fashion landscape impacted their interactions. This study shows that while the couture and textile industries drifted apart, the government’s interest in couture grew. This reframes the narrative on couture’s alleged influence as the spearhead of the textile industry while illustrating its wider prestige influence and its relevance to the state.

Blending business and environmental history, Citizen Coke seeks to answer a simple question: how did the Coca-Cola Company acquire the natural resources it needed to become one of the most ubiquitous branded items of commercial trade in the twentieth century? The dissertation shows how Coke satiated its ecological appetite by depending on state institutions and private sector partners that built infrastructure Coke required to extract, at low cost, raw materials for its beverage products. Not just a story of one soda company, Citizen Coke chronicles the making of Coca-Cola capitalism, a new strategy for accumulating profits first introduced in the Gilded Age that involved scavenging natural capital abundance generated by vertically integrated industrial empires, agribusinesses, and government-run utilities.

This article aims to explain the considerable state ownership in listed companies in Norway (SOiN) at present. The extant literature has pointed to alleged national idiosyncrasies to explain this special feature of Norwegian capitalism. The main contribution of this article is a comparative perspective. It shows that most European countries have pursued selective protectionism (i.e., to secure national ownership in key companies). It also shows that financial capital was not crucial for selective protectionism. On this background, the article discusses why state ownership became the mode of selective protectionism in Norway. It argues that the main reason is that large private (often multinational) companies did not develop in the wake of the second Industrial Revolution. Another key reason is that a specific hybrid ownership model that was developed after 1945 became an available institutional solution for securing national ownership after 1990. A common ground and a compromise were found on this model, based both on trust and distrust toward the state: a trust in that the state could operate as a passive and private owner, and a corresponding distrust in the state as an active industrialist and owner.

In 1927 the National Association of Life Underwriters collaborated with Professor Solomon Huebner of the University of Pennsylvania to found the American College of Life Underwriters, an institution devoted to establishing and maintaining professional standards for the nation’s life insurance salesmen. Their work sheds light on the new politics of expertise and associations that emerged in the 1920s. While many historians have portrayed the period’s experts as purveyors of new, technical knowledge and apolitical agents of an inevitable modernity, Huebner in fact brought little real knowledge of insurance to his work. Instead, he introduced the industry’s prevailing ideology of public service into his classroom, and it informed his professionalization project as well. The professor worked as a campaigner for professionalism, attempting to persuade life insurance salesmen, industry executives, and the American public to accept the notion that salesmen could become professionals. Ultimately, Huebner’s career shows how a Progressive expert worked directly with a trade association representing a disorganized industry. But instead of merely seeking to build new capacity for economic planning and stabilization, Huebner and the association boldly positioned their industry as a voluntary and private means of providing Americans with basic social welfare benefits and paved the way for the growth of the modern financial services industry.

The nineteenth-century growth of the London Stock Exchange and the development of the market for stocks and shares are familiar topics of study. This article provides an alternative perspective on them by decentering the London Stock Exchange and focusing instead on the activities of “outside stockbrokers”—those who operated outside the Stock Exchange and its rules. Often regarded as peripheral, these brokers were in fact instrumental in promoting investment and speculation to a mass market. The article examines their innovative methods, and seeks to explain why they were so successful, despite persistent—and sometimes justifiable—accusations of fraud. It suggests how perspectives from the history of consumer society provide fresh insights into the market for financial products. And it underlines the importance of looking outside formal markets by arguing that focusing on “fringe” markets can help scholars to rethink boundaries, relations, and practices in the history of capitalism.

“Wishful Thinking” discusses the origins of retail premium schemes in America. An entirely new marketing strategy that began appearing in the early 1850s, giving away free things with purchases helped fuel the consumer revolution of the 19th century by inducing people to buy things they did not necessarily want or need. The article focuses on the three most prevalent forms of premiums – gift distributions, prize packages, and gift book establishments – and draws on scholarship from various fields, including advertising and marketing history and economic anthropology. In addition to describing various premium schemes and linking them to nascent consumerism, the article posits why they might have been so successful, despite the fact that many were clearly fraudulent.

We use the tools of transaction cost politics (TCP) developed from transaction cost economics and economic analysis, to analyze the business relationship building between the Hongkong and Shanghai Banking Corporation (HSBC), the largest and most successful foreign bank in China, and the Chinese government between 1949 and 1978. We demonstrate the value of the TCP-based approach to evaluating the specialized governance structure of commitment built on mutual dependency. In particular, we identify several transaction attributes that give rise to hazards: transaction uncertainty, the role of the government in the economy, and the strength of the supporting coalition. Our analysis also confirms that commitment built on the mutual dependency between the international company and the local authorities and between the international company's home country authorities and the local authorities did reduce the company's transaction costs by guarding against the local authorities' opportunism.

This article addresses the issue of the uses of the multidivisional form in the French context at the end of the 1960s and the beginning of the 1970s. Comparing two case studies, Danone and Hachette, it sheds light on specific experiences in two different industries, the food and the book industry, respectively, in order to contribute to the debate over the Chandlerian paradigm. These two cases show that the implementation of the M-form in European companies can neither be reduced to the necessary diffusion of a universal structure nor to managerial fashion. At first a matter of redistributing the power between the shareholders and the management, the M-form led to hybrid organizations with characteristics heavily dependent on intensive internal negotiations. These findings emphasize the potential diversity of the implementation of the M-form and of the relations between management and shareholders. Far from being linear, company trajectories then heavily depend on partial compromises.