In this magisterial study, Michael Smith explains how France left behind small-scale merchant capitalism for the large corporate enterprises that would eventually dominate its domestic economy and project French influence throughout the world.
Arguing against the long-standing view that French economic and business development was crippled by missed opportunities and entrepreneurial failures, Smith presents a story of considerable achievement. French companies made major contributions to the Second Industrial Revolution of 1880-1930, especially in ferrous and non-ferrous metallurgy, electrochemicals, industrial gases, and motor vehicles. Rejecting the notion that France took a separate route to economic modernity, Smith argues that it tracked other industrial nations along a path dominated by large-scale production and corporate enterprise. Technological and organizational capabilities acquired by French companies prior to 1930 played a key role in the country's rapid economic recovery after World War II and its broader economic success in the second half of the twentieth century. Smith also addresses the distinctive characteristics of French economic and business development, including the pivotal role of the French state, the pervasive influence of French financiers, and the significance of labor conflict.
This superb account is an invaluable contribution to business history and the history of modern France.
The demise of state-owned enterprises, the transformation of collectives into shareholding cooperatives, and the creation of investment opportunities through stock markets indicate China's movement from a socialist, state-controlled economy toward a socialist market economy. Yet, contrary to high expectations that China's new enterprises will become like corporations in capitalist countries, management often remains under the control of the onetime bureaucrats who ran the socialist enterprises.
The concepts, definitions, and interpretations of property rights, corporate structures, and business practices in contemporary China have historical, institutional, and cultural roots. In tracing the development under founder Zhang Jian (1853-1926) and his successors of the Dasheng Cotton Mill in Nantong into a business group encompassing, among other concerns, cotton, flour, and oil mills, land development companies, and shipping firms, the author documents the growth of regional enterprises as local business empires from the 1890s until the foundation of the People's Republic in 1949. She focuses on the legal and managerial evolution of limited-liability firms in China, particularly issues of control and accountability; the introduction and management of industrial work in the countryside; and the integration and interdependency of local, national, and international markets in Republican China.
Anthony Di Renzo makes available for the first time since their original publication some eighty years ago a collection of fifteen of Sinclair Lewis’s early business stories.
Among Lewis’s funniest satires, these stories introduce the characters, themes, and techniques that would evolve into Babbitt. Each selection reflects the commercial culture of Lewis’s day, particularly Reason Why advertising, self-help manuals, and the business fiction of the Saturday Evening Post. The stories were published between October 1915 and May 1921 (nine in the Saturday Evening Post, four in Metropolitan Magazine, one in Harper’s Magazine, and one in American Magazine).
Because some things have not changed in the American workplace since Lewis’s day, these highly entertaining and unflinchingly accurate office satires will appeal to the fans of Dilbert and The Drew Carey Show. In a sense, they provide lay readers with an archaeology of white-collar angst and regimentation. The horror and absurdities of contemporary corporate downsizing already existed in the office of the Progressive Era. For an audience contemplating the death of the American middle class, Lewis’s stories provide an important retrospective on earlier times and a preliminary autopsy on the American dream.
Appearing just in time to celebrate the seventy-fifth anniversary of the publication of Babbitt, this collection rescues Lewis’s best early short fiction from obscurity, provides extensive information about his formative years in advertising and public relations, and analyzes both his genius for marketing and his carefully cultivated persona as the Great Salesman of American letters.
In 2004, U.S. consumers spent $5.2 billion purchasing bottled water while the government only invested 5 percent of that amount to purchase critical watersheds, parks, and wildlife refuges-systems vital to clean water and healthy environments. How can we reverse the direction of such powerful economic forces?
A group of dedicated business-people-turned-environmental-entrepreneurs is pioneering a new set of tools for land conservation deals and other market-based strategies. These pragmatic visionaries have already used these methods to protect millions of acres of land and to transform the practices of entire industries. They are transforming the very nature of conservation by making it profitable.
Drawing on his vast experience in both business and land conservation at The Nature Conservancy (TNC), William Ginn offers a practical guide to these innovative methods and a road map to the most effective way to implement them. From conservation investment banking, to emerging markets for nature's goods and services, to new tax incentives that encourage companies to do the "right" thing, Ginn goes beyond the theories to present real-world applications and strategies. And, just as importantly, he looks at the lessons learned from what has not worked, including his own failed efforts in Papua New Guinea and TNC's controversial compatible development approach in Virginia. In an era of dwindling public resources and scarce charitable dollars, these tools reveal a new, and perhaps the only, pathway to achieving biodiversity goals and protecting our lands.
Conservation professionals, students of land conservation, and entrepreneurs interested in green business will find Ginn's tales of high-finance deals involving vast tracts of pristine land both informative and exciting. More than just talk, Investing in Nature will teach you how to think big about land conservation.
The concept of the “visible hand” in big business enterprise, so persuasively and brilliantly argued in Alfred D. Chandler, Jr.’s prize-winning The Visible Hand: The Managerial Revolution in American Business, is tested and extended in this book. These essays show that the growth and complexity of managerial hierarchies (“visible hands”) in large business firms are central to the organization of modern industrial activity. Leading American and European historians retrace and compare the historical evolution of the contemporary giant managerial hierarchies in the United States, Britain, Germany, and France.
The first group of essays—by Chandler, Leslie Hannah, Jürgen Kocka, and Maurice Lévy-Leboyer—explores the rise of modern industrial enterprise in the West. They suggest the mechanisms and causes of the shift from the invisible hand of market coordination to the visible hand of managerial hierarchies, and attempt to pinpoint cultural and economic reasons for the persistence of transitional forms of organization in Europe. Other essays—by Morton Keller and Oliver E. Williamson—describe the legal and regulatory responses to the rise of big business and the implications of the history of the managerial revolution for students of economic development and industrial organization. The final essay, by Herman Daems, provides an overall analysis of the reasons managerial hierarchies replaced market mechanisms and agreements among firms as devices for coordination and the allocation of resources in advanced market economies.
This fresh study of the managerial revolution presents recent theoretical reflections in institutional economics and industrial organization in the light of new historical findings.
The investor-owned corporation is the conventional form for structuring large-scale enterprise in market economies. But it is not the only one. Even in the United States, noncapitalist firms play a vital role in many sectors. Employee-owned firms have long been prominent in the service professions--law, accounting, investment banking, medicine--and are becoming increasingly important in other industries. The buyout of United Airlines by its employees is the most conspicuous recent instance. Farmer-owned produce cooperatives dominate the market for most basic agricultural commodities. Consumer-owned utilities provide electricity to one out of eight households. Key firms such as MasterCard, Associated Press, and Ace Hardware are service and supply cooperatives owned by local businesses. Occupant-owned condominiums and cooperatives are rapidly displacing investor-owned rental housing. Mutual companies owned by their policyholders sell half of all life insurance and one-quarter of all property and liability insurance. And nonprofit firms, which have no owners at all, account for 90 percent of all nongovernmental schools and colleges, two-thirds of all hospitals, half of all day-care centers, and one-quarter of all nursing homes.
Henry Hansmann explores the reasons for this diverse pattern of ownership. He explains why different industries and different national economies exhibit different distributions of ownership forms. The key to the success of a particular form, he shows, depends on the balance between the costs of contracting in the market and the costs of ownership. And he examines how this balance is affected by history and by the legal and regulatory framework within which firms are organized.
With noncapitalist firms now playing an expanding role in the former socialist countries of Eastern Europe and Asia as well as in the developed market economies of the West, The Ownership of Enterprise will be an important book for business people, policymakers, and scholars.
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