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In this article. Professor Baum reports on recent research into the annuity markets of late medieval German Hanse towns. While historians traditionally have considered annuities an essentially noncommercial form of credit, Baum takes a different approach. Considering the annuity market as an economic institution, he describes its function as an instrument of credit and offers some speculations about how his conclusions modify our traditional view of the late medieval economy.
In this article Dr. Jones traces the history of the Gramophone Company—an early British multinational—between 1898 and 1931. Drawing on hitherto untapped archival sources, he provides a detailed narrative of the firm's history while at the same time placing it within the context of British multinational expansion as a whole. Of particular interest is his discussion of the firm's “special relationship” with the American-based Victor Company—a relationship that demonstrates how restrictive international agreements could affect the dynamics of multinational growth.