In 1966 the Supreme Court expressed a desire to arrest consolidation of the brewing industry “in its incipiency.” This article argues that a national brewing oligopoly had already emerged by that date. In the 1930s and 1940s, restrained demand and regulatory pressure discouraged price and advertising competition and forced brewers to adopt cost-saving technologies. By the end of the Second World War, the largest brewers harbored unexploited economies of scale in processing. With relief from war shortages in the 1950s, large regional brewers expanded to pursue processing economies and secured their advantages with scale in distribution and advertising.

This article explores some of the methods used to raise credit in an important trading region of late medieval England during a decline in overseas trade and an international bullion famine. It argues that, because provincial credit arrangements depended on local as well as national factors, a combination of demographic and regional circumstances contributed to the commercial weakness of Yorkshire merchants as they faced growing competition from Londoners with access to more sophisticated financial networks.

This intensive analysis of the Railroad Commission of Texas during the first half of the twentieth century focuses on the impact of personality and of regional and cultural characteristics on regulatory policy and outcomes. The article suggests that a “myth of power” and a “civil religion” of Texas oil, galvanized by a popular commissioner, both allowed cooperative control of oil production and obscured the real sources of power in the world oil industry.

Many observers of the American automobile industry have focused on Ford's development of mass production shortly before the First World War; they have then moved to General Motors's success in the 1920s, usually attributing it to a marketing innovation, the introduction of the annual model change. This article argues that the emphasis on GM's marketing strategy is misplaced and that profound changes in the organization of production, exploiting the economies of common parts, were far more fundamental. Rough calculations of the cost structure involved in the rise of the Chevrolet to mass market domination are presented to support this interpretation.

Small businesses have held a paradoxical position in U.S. history: their particular forms and structures have received little scholarly attention compared to that devoted to big business, yet they have always been a significant part—social and cultural, as well as economic and political—of American life. This essay discusses the changing views on the role of small-scale enterprise in the United States, outlines the current state of historical research, and suggests profitable areas for future study.

Using the record books of M'Connel and Kennedy, a leading cotton-spinning firm in Manchester, this article traces the development of managerial strategies to elicit effort from workers during the Industrial Revolution. Contrary to the conventional wisdom, the firm had difficulty in extracting effort from its workers, who were unwilling to increase output without capturing some of the gains through wage adjustments. Since spinners controlled the work organization, M'Connel and Kennedy had to accommodate workers' demands for stable piece rates, which were codified in the Manchester list of prices of 1829.

The following article combines an analysis of production techniques in the French automobile industry between the wars and a rich supply of photographs that visually document the course of innovation in the industry. The text and illustrations show that, though production managers at Citroën, Peugeot, and Renault were aware of the methods of Henry Ford and Frederick W. Taylor, they adapted them to specific situations within the French industry and within their own companies. By looking specifically at the work of Ernest Mattern, who held production responsibilities at both Peugeot and Citroën and observed Renault as well, the essay traces the incremental changes in the organization of automobile manufacturing in France before the Second World War.

Were banks in the Jacksonian era merely bastions of privilege or were they vehicles of upward mobility for those without capital? The authors attempt to answer these questions by analyzing changes in the wealthholdings of directors of banks in Providence, Rhode Island, during the period 1830 to 1845. They find that bank charters granted in the 1830s did tend to benefit men with relatively little property and that they provided a rising group of entrepreneurs with the financial wherewithal to challenge the established elite.

The purchasing strategies of the dominant U.S. automakers form a topic neglected by both economists and business historians. The following article examines the automakers' changing relations with their suppliers throughout the twentieth century. Using the exit/voice paradigm, it establishes a framework that can account for both current and past strategies, even when they seem to contradict the logic of economic theory.

Life insurance corporations were among the first businesses to expand their activities across state lines in the mid-nineteenth century. Yet their efforts were often impeded by protectionist state laws and uneven state regulations. The industry reacted by forming a trade association that pressed for federal regulation of multistate insurance sales. This article examines the life insurance industry's attempts in Congress and in the courts to alter the balance of federalism and to promote free trade in a growing national market.

It has been claimed that the diversified mercantile capitalist of eighteenth-century Britain was replaced by the specialist industrialist of the nineteenth. This study of Manchester cotton merchants who moved into fire insurance in the 1820s examines the neglected strategy of collective diversification. It argues that the merchants' decision to diversify cannot be explained by short-term financial or economic considerations arising out of the insurance or cotton markets and only partly by long-run issues such as profit maximization and constraints on growth. Collective diversification is best understood as part of a broader attempt to create a system of interlocking services by an urban oligarchy seeking both to improve the economic infrastructure of their region and to consolidate the economic and political power of their group.

The following case studies and analysis of the machine tool and jewelry manufacturing industries attempt to set the stage for a reconsideration of “the other side of industrialization” in the United States during the Second Industrial Revolution—the custom and batch production sectors. Recognizing that much work remains to be done in this area, the author nevertheless concludes that the diversity of circumstances and responses characterizing these industries makes it unlikely that one theory can be adduced to explain their highly contingent world.

The following case studies and analysis of the machine tool and jewelry manufacturing industries attempt to set the stage for a reconsideration of “the other side of industrialization” in the United States during the Second Industrial Revolution—the custom and batch production sectors. Recognizing that much work remains to be done in this area, the author nevertheless concludes that the diversity of circumstances and responses characterizing these industries makes it unlikely that one theory can be adduced to explain their highly contingent world.

When Alfred P. Sloan, Jr., assumed the presidency of General Motors, the corporation was little known beyond Wall Street, which recognized GM simply as the holding company that controlled several nearly autonomous automakers and their subsidiaries. The following article describes how Sloan used the imagination and advertising talent of Bruce Barton to create a corporate image for GM, not only in the mind of the public, but among GM's own headquarters staff and division executives as well. Through the metaphor of the corporate “family,” Sloan and Barton finessed a potential public relations liability—the corporation's immense size—into an image of efficient cooperation and internal cohesion.

This article argues that the business policies of the German credit banks were only a secondary cause of the troubles that befell them between the wars and that the primary explanation lies in the instability of their monetary environment and of the credit sector's competitive structure. By carefully tracing the impacts of the interwar inflation and stabilization and of the 1931 crisis on the German banking industry, setting them in the context of domestic and international political developments, the article explains the limited choices available to the banks in this period and their relative eclipse during the Third Reich.