Pub Date : 2023-05-10DOI: 10.1017/S0007680523000144
R. Curtin
{"title":"The Behavioral Economics of Inflation Expectations: Macroeconomics Meets Psychology. By Tobias F. Rötheli. New York: Cambridge University Press, 2020. 243 pp. Illustrations, references, index. ISBN: 978-1-108-44706-5.","authors":"R. Curtin","doi":"10.1017/S0007680523000144","DOIUrl":"https://doi.org/10.1017/S0007680523000144","url":null,"abstract":"","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"97 1","pages":"192 - 194"},"PeriodicalIF":1.2,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45915335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-10DOI: 10.1017/S0007680523000260
Emilie Y. Takayama
A Medicated Empire is a delightful book about medicine and its relationship with busi-ness and politics as examined through the largest pharmaceutical company in prewar Japan, Hoshi Pharmaceuticals, and its colorful founder, Hoshi Hajime. The book adds a welcome new dimension to a recent corpus of scholarship on addictive drugs in Japan. Behind the “moral economy” (Miriam Kingsberg) and grotesque necropo litics (Mark Driscoll) of the Japanese empire and stimulant-addicted affluent Japan (Jeffrey Alexander) the pharmaceutical industry was there selling healing medicines and addictive drugs. 1 The modern pharmaceutical industry developed alongside new imperialism, market capitalism, mass media, and world wars. Timothy M. Yang does an outstanding job of placing Hoshi Pharmaceuticals in this larger, global context while detailing Japan-specific information about nation-state/empire building and competition over raw materials overseas. Importantly, he raises a fundamental issue concerning the Janus-faced nature of the pharmaceutical industry in a capitalist economy as the public good and profits alike.
{"title":"A Medicated Empire: The Pharmaceutical Industry and Modern Japan. By Timothy M. Yang. Ithaca: Cornell University Press, 2021. Notes, references, index. Cloth, $54.95. 354 pp. ISBN: 978-1-5017-5624-5.","authors":"Emilie Y. Takayama","doi":"10.1017/S0007680523000260","DOIUrl":"https://doi.org/10.1017/S0007680523000260","url":null,"abstract":"A Medicated Empire is a delightful book about medicine and its relationship with busi-ness and politics as examined through the largest pharmaceutical company in prewar Japan, Hoshi Pharmaceuticals, and its colorful founder, Hoshi Hajime. The book adds a welcome new dimension to a recent corpus of scholarship on addictive drugs in Japan. Behind the “moral economy” (Miriam Kingsberg) and grotesque necropo litics (Mark Driscoll) of the Japanese empire and stimulant-addicted affluent Japan (Jeffrey Alexander) the pharmaceutical industry was there selling healing medicines and addictive drugs. 1 The modern pharmaceutical industry developed alongside new imperialism, market capitalism, mass media, and world wars. Timothy M. Yang does an outstanding job of placing Hoshi Pharmaceuticals in this larger, global context while detailing Japan-specific information about nation-state/empire building and competition over raw materials overseas. Importantly, he raises a fundamental issue concerning the Janus-faced nature of the pharmaceutical industry in a capitalist economy as the public good and profits alike.","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"97 1","pages":"158 - 160"},"PeriodicalIF":1.2,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49471787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-10DOI: 10.1017/S0007680523000132
Marcelo Bucheli
{"title":"Sorting Out the Mixed Economy: The Rise and Fall of Welfare and Developmental States in the Americas. By Amy Offner. Princeton: Princeton University Press, 2019. xv + 381 pp. Figures, notes, index. Cloth, $39.95. ISBN: 978-0-691-19093-8.","authors":"Marcelo Bucheli","doi":"10.1017/S0007680523000132","DOIUrl":"https://doi.org/10.1017/S0007680523000132","url":null,"abstract":"","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"97 1","pages":"183 - 186"},"PeriodicalIF":1.2,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43557459","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-10DOI: 10.1017/S0007680523000120
Walter Paternesi Meloni
{"title":"Making Social Spending Work. By Peter H. Lindert. New York: Cambridge University Press, 2021. 434 pp. Hardcover, $29.99. ISBN: 978-1-108-47816-8.","authors":"Walter Paternesi Meloni","doi":"10.1017/S0007680523000120","DOIUrl":"https://doi.org/10.1017/S0007680523000120","url":null,"abstract":"","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"97 1","pages":"187 - 189"},"PeriodicalIF":1.2,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44348957","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-10DOI: 10.1017/s0007680523000314
{"title":"BHR volume 97 issue 1 Cover and Back matter","authors":"","doi":"10.1017/s0007680523000314","DOIUrl":"https://doi.org/10.1017/s0007680523000314","url":null,"abstract":"","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"97 1","pages":"b1 - b2"},"PeriodicalIF":1.2,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47853017","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-10DOI: 10.1017/S0007680523000211
Nicholas Alexander
tributing welfare spending from the old to the young can be overcome if we accept expanding the pie (i.e., increasing the resources devoted to social spending) by increasing the progressivity of the taxation system (that is, taxingmore high incomes and/or extra profits) or public deficits. Notably, in the European context, this second option would be at odds with the founding treaties. Nonetheless, the recent crisis teaches us that public stimulus has been much broader in economies not subject to budget constraint. Just compare “Next Generation EU” with the Biden package. A similar reasoning can apply to the alleged economic consequences of immigration: no tensions would exist if governments implemented universal welfare provision and safety nets combined with publicly financed full employment policies (probably the most immediate way to reduce inequality). The following bottom line emerges from the reading: although there are different types of capitalism,market-generated inequalities can still be faced and mitigated through effective policies and institutions. That underlines the power of public-provided welfare and makes the book a must-read for scholars and citizens interested in a process of equitable growth.
{"title":"The Oxford Handbook of Luxury Business. Edited by Pierre-Yves Donzé, Véronique Pouillard, and Joanne Roberts. Oxford: Oxford University Press, 2022. xii + 634 pp. Illustrations, figures, index. Hardback, $150.00. ISBN: 978-0-19-093222-0.","authors":"Nicholas Alexander","doi":"10.1017/S0007680523000211","DOIUrl":"https://doi.org/10.1017/S0007680523000211","url":null,"abstract":"tributing welfare spending from the old to the young can be overcome if we accept expanding the pie (i.e., increasing the resources devoted to social spending) by increasing the progressivity of the taxation system (that is, taxingmore high incomes and/or extra profits) or public deficits. Notably, in the European context, this second option would be at odds with the founding treaties. Nonetheless, the recent crisis teaches us that public stimulus has been much broader in economies not subject to budget constraint. Just compare “Next Generation EU” with the Biden package. A similar reasoning can apply to the alleged economic consequences of immigration: no tensions would exist if governments implemented universal welfare provision and safety nets combined with publicly financed full employment policies (probably the most immediate way to reduce inequality). The following bottom line emerges from the reading: although there are different types of capitalism,market-generated inequalities can still be faced and mitigated through effective policies and institutions. That underlines the power of public-provided welfare and makes the book a must-read for scholars and citizens interested in a process of equitable growth.","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"97 1","pages":"189 - 192"},"PeriodicalIF":1.2,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46924350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-10DOI: 10.1017/S0007680523000065
V. Gwande
This article details how and why officials in the United States and the Federation of Rhodesia and Nyasaland developed policies and initiatives to promote US capital investments. It analyzes these policies in the context of decolonization, white minority rule, and the Cold War in Africa. It further shows how US business interests, especially in the mining industry, increased their investments and influenced policy. Drawing from Zimbabwean archives, it argues that these competing priorities produced inconsistent results that tended to support US imperialism and hinder nationalist movements in British Central Africa.
{"title":"The Political Economy of American Businesses in British Central Africa, 1953–1963","authors":"V. Gwande","doi":"10.1017/S0007680523000065","DOIUrl":"https://doi.org/10.1017/S0007680523000065","url":null,"abstract":"This article details how and why officials in the United States and the Federation of Rhodesia and Nyasaland developed policies and initiatives to promote US capital investments. It analyzes these policies in the context of decolonization, white minority rule, and the Cold War in Africa. It further shows how US business interests, especially in the mining industry, increased their investments and influenced policy. Drawing from Zimbabwean archives, it argues that these competing priorities produced inconsistent results that tended to support US imperialism and hinder nationalist movements in British Central Africa.","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"97 1","pages":"67 - 91"},"PeriodicalIF":1.2,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41997779","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-10DOI: 10.1017/S0007680523000259
Cynthia B. Meyers
rities quickly matured, and the burgeoning marketplace for railroad securities was barred to small-scale investors (p. 199). Did Cooke mine the “sort of emotional commodity” of confidence in the Union, or manufacture it (p. 8)? Its “strange surge” likely correlated to battlefield outcomes but also, argues Thomson, to the “faith” that salesmanship instilled (pp. 195, 132). A new culture of finance in America, and the success of war bonds, then, were mutually dependent processes. Several questions come to mind: whether intent or opportunity determined civic investment, what kind of profitability patriotism required, and what ideals replaced the Civil War’s financial citizenship in the Reconstruction era. Regular readers of this journal might criticize that institutional changes and business innovations get short shrift in the growth of American finance, or that Thomson only hints at the immensely important function of credit. And the profitable globalization of US financing, not least, may leave one wondering about the transnational marketing of the Union, the national and imperial attachments of capital networks, or the increasingly crucial role of railroad, state, andmunicipal debt in nation-building. These questions, however,merely evidence the fact thatBonds ofWar is a deeply researched and neatly argued book that successfully retells the Civil War moment in financial history, repositionsWall Street firmly within transatlantic networks, and enables further work.
{"title":"The Rise of Mass Advertising: Law, Enchantment, and the Cultural Boundaries of British Modernity. By Anat Rosenberg. Oxford: Oxford University Press, 2022. 432 pp. Illustrations, bibliography, index. Hardcover, £70.00. ISBN: 978-0-19-285891-7.","authors":"Cynthia B. Meyers","doi":"10.1017/S0007680523000259","DOIUrl":"https://doi.org/10.1017/S0007680523000259","url":null,"abstract":"rities quickly matured, and the burgeoning marketplace for railroad securities was barred to small-scale investors (p. 199). Did Cooke mine the “sort of emotional commodity” of confidence in the Union, or manufacture it (p. 8)? Its “strange surge” likely correlated to battlefield outcomes but also, argues Thomson, to the “faith” that salesmanship instilled (pp. 195, 132). A new culture of finance in America, and the success of war bonds, then, were mutually dependent processes. Several questions come to mind: whether intent or opportunity determined civic investment, what kind of profitability patriotism required, and what ideals replaced the Civil War’s financial citizenship in the Reconstruction era. Regular readers of this journal might criticize that institutional changes and business innovations get short shrift in the growth of American finance, or that Thomson only hints at the immensely important function of credit. And the profitable globalization of US financing, not least, may leave one wondering about the transnational marketing of the Union, the national and imperial attachments of capital networks, or the increasingly crucial role of railroad, state, andmunicipal debt in nation-building. These questions, however,merely evidence the fact thatBonds ofWar is a deeply researched and neatly argued book that successfully retells the Civil War moment in financial history, repositionsWall Street firmly within transatlantic networks, and enables further work.","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"97 1","pages":"168 - 171"},"PeriodicalIF":1.2,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43257324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-28DOI: 10.1017/s0007680522001076
A. Bergquist, Thomas David
This article examines the role of business interests in shaping the structures of global environmental governance between the United Nations (UN) Conference on the Human Environment in Stockholm in 1972 and the UN Conference on Environment and Development in Rio in 1992. It demonstrates how the International Chamber of Commerce (ICC) managed to establish itself as a key partner for the UN while articulating a neoliberal vision that emphasized the market mechanism and business self-regulation as sources of environmental governance. The article provides empirical evidence that the ICC institutionalized business self-regulation in environmental governance and contributed to the very definition of the concept of sustainable development as we know it today.
{"title":"Beyond Planetary Limits! The International Chamber of Commerce, the United Nations, and the Invention of Sustainable Development","authors":"A. Bergquist, Thomas David","doi":"10.1017/s0007680522001076","DOIUrl":"https://doi.org/10.1017/s0007680522001076","url":null,"abstract":"This article examines the role of business interests in shaping the structures of global environmental governance between the United Nations (UN) Conference on the Human Environment in Stockholm in 1972 and the UN Conference on Environment and Development in Rio in 1992. It demonstrates how the International Chamber of Commerce (ICC) managed to establish itself as a key partner for the UN while articulating a neoliberal vision that emphasized the market mechanism and business self-regulation as sources of environmental governance. The article provides empirical evidence that the ICC institutionalized business self-regulation in environmental governance and contributed to the very definition of the concept of sustainable development as we know it today.","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"17 14","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41249714","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-10DOI: 10.1017/S0007680522000563
Matthew Lowenstein, Shuji Cao
This article analyzes the accounting treatment of sales and purchasing at the Fengshengtai Company (丰盛泰号), a salt trader from Shanxi Province. We find evidence of “dualled entry” bookkeeping in that all transactions were recorded twice. Crucially, each set of dualled entries was recorded in two distinct accounts. For example, cash transactions were recorded in a “cash flowing account” as well as a specialized flowing account. We thus argue that, in light of clues from other records, a system of indigenous Chinese double-entry bookkeeping may well have been developed at Fengshengtai and other Shanxi merchants. Our study is based on Fengshengtai's surviving account books, a collection of primary sources spanning 1854 to 1881, that have recently become available to scholars.
{"title":"Business Accounting at Fengshengtai in Late Imperial China: Is There New Evidence of Double-Entry Bookkeeping?","authors":"Matthew Lowenstein, Shuji Cao","doi":"10.1017/S0007680522000563","DOIUrl":"https://doi.org/10.1017/S0007680522000563","url":null,"abstract":"This article analyzes the accounting treatment of sales and purchasing at the Fengshengtai Company (丰盛泰号), a salt trader from Shanxi Province. We find evidence of “dualled entry” bookkeeping in that all transactions were recorded twice. Crucially, each set of dualled entries was recorded in two distinct accounts. For example, cash transactions were recorded in a “cash flowing account” as well as a specialized flowing account. We thus argue that, in light of clues from other records, a system of indigenous Chinese double-entry bookkeeping may well have been developed at Fengshengtai and other Shanxi merchants. Our study is based on Fengshengtai's surviving account books, a collection of primary sources spanning 1854 to 1881, that have recently become available to scholars.","PeriodicalId":9503,"journal":{"name":"Business History Review","volume":"97 1","pages":"33 - 65"},"PeriodicalIF":1.2,"publicationDate":"2023-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45895384","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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