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In an earlier paper [2], the sequential decision process was applied to two major facets of credit management: (a) deriving unambiguous decision rules for handling individual credit requests; and (b) devising relevant credit indices for effective management control and evaluation of the system. Usefulness of the model was constrained by its static nature and by exogenous determination of other significant variables, notably, collection efforts and costs.
Almost unnoticed in the midst of revisionist attacks on progressive history and the rise of the New Left, an organizational synthesis has been emerging which offers much to the student of modern America. Professor Galambos presents a historiographical survey of this synthesis and concludes that its chief strength is a mode of analysis blending the traditional tools of historical thought with ideas from the behavioral sciences.
American entry into World War I presented complex problems in the adjustment of the private economy to the needs of a nation in crisis. Professors Cuff and Urofsky analyze the process by which the steel industry and the Wilson Administration reached a pragmatic accommodation on the regulation of wartime prices.
In the 1920's, the Supreme Court reversed its previously hostile position on the legality of many activities of trade associations. Professor Carrott finds that the primary cause of the court's shift lay in the changing social milieu of the decade, as the older insistence on rigorous competition was supplanted by an emphasis on the value of cooperation in business.
In the manner of the Creole tradesmen of Louisiana, whose lagniappe to their patrons is legendary, the Editor offers a similar bonus to readers of the Review. Instead of trifling presents added to a purchase, however, our lagniappe will be notes and documents illustrative of the evolution of business enterprise.
Historians of the Progressive Era have recently focused much attention on the role played by businessmen in the reform legislation of that period. Mr. Blackford's study considers this topic in the case of a significant portion of the California business community.