In the 1960s, the optimal size of integrated steel plants significantly increased, while small steel mills known as minimills were gaining ground in the sector. Based on the use of scrap and electricity, these small plants became an alternative technological model to blast furnace steelmaking. Among the major European steel nations, Italy and Spain stood out for the early adoption and significant participation of electric furnaces in total steel production. The article explains the factors that led to the proliferation of small independent steel mills and their subsequent transformation into minimills in these Mediterranean countries. The conclusion is that, despite the different institutional frameworks, the Italian and Spanish response to the steel shortage of the 1950s was similar. This led to the emergence of many small producers, which based their development on low installation costs. In Italy, these businesses leveraged the opportunities of the postwar economic miracle, had access to a favorable supply of raw materials due to the policy of the High Authority of the European Coal and Steel Community (ECSC), and were able to resiliently face the restructuring process of the 1980s led by the Commission of the European Communities (EC). In Spain, they took advantage of strong state intervention.

This article examines small and medium-sized scrap and wastepaper enterprises in Finland. They operated in the margins of the nation’s industrial economy during the twentieth century but pioneered many of the business models and practices that, in the last few decades, have become crucial elements of the circular economy. We study why and how they tried to develop profitable business models, and why some succeeded while others failed. We give particular attention to the business environment where they operated and argue that legislation, values, purchasing cartels, and other outside factors had a crucial impact on their profitability. We base our analysis partly on published company histories and other earlier research and partly on interviews and the extensive and usually open collections of business archives. Those sources provide us with the often-lacking inside view of small and medium-sized enterprises in the circular economy business and show how determined these companies were to defend their interests.

This article examines Mahindra & Mohammed (now Mahindra & Mahindra) and the Muhammadi Steamship Company through a microhistory of late colonial Bombay. The paper reveals companies committed to the economic unity of India shortly before the anticolonial struggle culminated in the violent and chaotic Partition of British India in August 1947. In Bombay, the center of Indian industry and not typically associated with the Partition’s dislocations, economic partition was unanticipated even by economic actors closely allied with the Muslim League. The two firms examined here highlight the understudied impact of decolonization and the Partition of the sub-continent on Indian capitalism, and suggests that postcolonial territorial realities implied an economic rearticulation that has often been overlooked.

Welcome to Volume 25, No. 4 of Enterprise & Society. By tradition, this issue carries the presidential address delivered at the annual meeting of the Business History Conference. Sharon Murphy delivered a compelling talk on the topic “Doing Business in the Public Interest,” intermixing sharp reflections with personal family history. We are delighted to present Sharon’s fine essay here. Also, by tradition, this issue carries summaries of the dissertations shortlisted for the Krooss Prize at the annual meeting in the spring. This year four finalists presented their work to the conference. The four finalists were Manuel Bautista-González, Liane Hewitt, Jordan Howell, and Ellen Nye. This year’s winner of the Herman E. Krooss Prize for Best Dissertation in Business History was Ellen Nye. Unfortunately, personal circumstances have prevented Dr. Bautista-González from completing his summary in time for this issue, but we look forward to publishing his contribution as soon as possible.