Since the 1990s, a new model for market control organized through tripartite standards regimes (TSR), has expanded globally and affected most market exchanges through standard-setting, accreditation, and certification. This article investigates business-consumer relations under this regime, with a specific focus on the functions of accreditation and certification. In our case study of Sweden, a new picture of consumer protection under late capitalism evolves. Seeing it as a form of neoliberalization, the article uncovers a transition between two regimes of control; from one built on a potential conflict between consumer and business interests, to one based on the assumption that business interests are beneficial for all parties. Although business interest was formulated as pleasing the consumer—or the “customer”—by both certification firms and the Swedish Accreditation Authority, in practice consumer interest as something worth protecting was made abstract in the era of the TSR.

The literature on early modern credit markets emphasizes both the social embeddedness of credit relationships and the role of notaries. To enhance our understanding of how credit markets functioned in a “less-developed” economy, we investigate the local lending activities of a merchant-banker family that operated at the intersection of formal and informal credit. A combination of economic rationality and social motivations in lending decisions emerges. The credit network of this family firm provides a portrait of the social structure of the local community, where the central position of a few trusted notaries and members of the business and political elite highlights the prevalence of relationships of power and favor over impersonal market exchange. The predominance of informal credit reveals a preference for loans made outside of notarial circuits. Nonetheless, notaries were crucial in lending to borrowers of lower social status and with weak ties, thus helping the liquidity of these merchants to “trickle down” into local society.

In December 1890, when Samuel Iseman stopped in Sumter, South Carolina, he hoped to turn his luck around. The traveling grocery salesman's trip so far had not gone well. Rain had delayed his train by two hours. When Iseman finally arrived, he had time to “drum” up business with only one retailer before drying off and retiring for the evening. The next day was no better; his expense money was dangerously low. He dunned two area merchants for payment on their accounts, eager to refill his coffers, but received only the runaround for his efforts. He checked in on groceryman (and postmaster) Moses W. Harrell in nearby Timmonsville, who made good his account, with one exception. The grocer took issue with a recent delivery of hams that had come from Iseman's Charleston wholesale fi rm, 120 miles south. Harrell complained to Iseman that the hams were of poor quality and that he had sold only two or three. Harrell asked for a refund. The traveling man felt badly that the grocer had taken the meat because Iseman had talked them up. When the hams failed to satisfy, both the salesman's word and the confidence he had earned from Harrell were on the line.

The article presents some new evidence concerning the conversion program in Socialist Hungary that constituted an exceptional case not only in the Socialist Bloc, but also in the early period of the Cold War. The Hungarian military industry—step by step—was reintegrated into the civil economy between 1953 and 1961. The war plants developed a dual production structure, which helped them stand the storms of the lengthy transitional period. Companies with a double profile diversified their production with a wide scale of civilian goods, new constructional and R&D departments were established. The article examines at the firm level the strategies, the changes in behaviours of the top-managers, and the consequences—what did the switch-over have for Hungarian society, to what extent contributed the increase in consumer goods to political stabilization of the system.

A generation of historians, working at the intersection of business history and cultural history, has examined the consumer culture that flourished in the United States in the nineteenth and twentieth centuries. In studies of advertising, marketing, department stores, credit systems, and other aspects of selling and buying, these scholars have shown that American businesses not only produced consumer goods but also created consumer desire.

America's progression from a frontier society to a settled society took more than three hundred years. During that time, Americans had to give up their view of the resources of the public domain as “free goods” and accept the idea of public compensation for appropriation of those resources for private gain. This attitudinal change took place first on the public lands of Maine and laid the groundwork for the wood-products industry in the United States.

British industrial policy in the 1930s has generated considerable historical controversy. This article furthers the debate by using the cotton industry as a case study. The biggest constraint on active government policies toward cotton was not institutional inertia or “industrial diplomacy,” as some historians claim, but the sheer practical difficulty of intervening in such a complex industry. Cotton also poses problems for historians who see British industrial policy in the 1930s as largely about restraining competition. The government feared that restriction would make matters worse in the cotton industry and was therefore hesitant about backing schemes designed to limit competition. Its dilemma was how best to maintain private-sector confidence.

In the century and half since its 1861 unification, Italy has left the periphery of the world economy and reached a level of wealth close to that of industrialized core Western countries. Since the 1990s, however, the process of globalization has exposed the weakness of the Italian productive system, and the country’s economic performance has been one of the worst in the world. This pattern raises questions about the very nature of the Italian economy, its historical development, and its relative success in the long run, demonstrating the need for a structural reassessment of these themes. The aim of this special forum is to provide such analysis, offering a systematic and innovative view based on the interaction between institutions (conceived as the rules of the game of economic agents), firm structure, and economic performance. The main hypothesis discussed in all four articles is that Italian capitalism has been negatively affected by inefficient institutions that had a strong impact on firms’ size and governance, managerial practices, and attitude to innovate. As a result, the Italian economic performance has been frustrated, rather than promoted, by the institutional environment, and in large part shaped by fortunate contingencies.

After the editors’ introduction, the special forum starts with a reconstruction of the macroeconomic scenario (“Italy’s Modern Economic Growth, 1861–2011”), using the state-of-the-art data and focusing not only on the process of growth, but also on the problems of living standard, inequality, and regional disparities. The second article (“Institutions, Politics, and the Corporate Economy”) focuses on the exceptionality of the Italian industrial structure characterized by the large dominance of small firms. The authors explain how the institutional setting has played a crucial role in determining the contrasting performance of big business on the one hand, and of small firms on the other. The third article in the forum (“The Ghost in the Attic? The Italian National Innovation System in Historical Perspective, 1861–2011”), which provides a broad reconstruction of long-term trends in science and technology, analyzes the Italian innovative capabilities in the long run. The authors explain how the institutional setup has determined the Italian attitude toward technological innovation in the different historical phases, and suggest that the Italian national innovation system, from the unification until today, has been characterized by a peculiar shadowy or ghostly nature. The last article (“Happy 150th Anniversary, Italy? Institutions and Economic Performance Since 1861”), which also synthesizes the very message of the forum, focuses on the mechanisms on which institutions work. The authors argue that Italian economic development has been characterized in the long run by poor formal institutions, which led to a suboptimal pattern of growth characterized by scarce investment in education, low salaries, imitative technologies, and exploitative management of firms by owners who were mainly stockholders rather than stakeholders.

Through a study of the history of department stores and shopping centers in the Philadelphia metropolitan region between 1920 and 1980, I explore the historical role of retailing in the evolution of the "sprawl" landscape that came to dominate urban form in the United States by the end of the twentieth century. Philadelphia is an important case study for this topic because of its long history of urbanization, during which it developed from a colonial port city to a nine-teenth-century industrial metropolis to a model of twentieth-century deindustrialization. Through all the phases of its growth, Philadelphia remained an important consumer marketplace serving the regional hinterland of the Delaware Valley. I sought to understand the forces that led to the city's twentieth-century decline as the primary site of consumption for the Delaware Valley, when major sites for distributing consumer goods developed in the hinterland itself.

This essay investigates the ways in which child safety became an enterprise during the child protection crusade of the 1980s. Americans clamored for an increased federal presence in “the battle for child safety,” but they made such calls in a climate of intense governmental distrust. The federal government did assume a larger role on the issue of missing and exploited children with the passage of the Missing Children and Missing Children’s Assistance Acts of 1982 and 1984, respectively. But, as this essay demonstrates, the state also stressed the primacy of the private sector—and specifically for-profit companies—in protecting American children. The celebration by President Ronald Reagan and others of private sector efforts to raise awareness about and “save” American youngsters laid the groundwork for a broader child safety apparatus that took hold in the final decades of the twentieth century.

The Victorian City of London’s financial center expanded and renewed its building infrastructure virtually unimpeded by considerations of urban preservation, conservation, or public opinion. The next phase of massive rebuilding, during the long post-1945 boom, appeared likely to follow the same pattern. However, by the mid-1960s, the freedom of City office owner-occupiers and developers to do as they wished with their buildings had become substantially constrained by rising conservationist sentiment. This paper explores this process through the history of the design, building, and eventual aborted demolition of Gibson Hall, the Bishopsgate headquarters of National Provincial Bank for over a century. This paper charts the life of Gibson Hall, in particular its conception, design, and, ultimately, its attempted redevelopment. We also consider the long-term consequences of the rebalancing between economic and conservation objectives for the nature of British urban redevelopment and the adoption of a “throwaway” business headquarters style—to remove any risk of popular support for preservation.

This article analyzes the causes for the long-term success of the Barcelona (Spain) and São Paulo (Brazil) automobile industry clusters. Comparative evidence suggests that both clusters emerged in the early twentieth century through the formation of Marshallian external economies. Nevertheless, neither Barcelona nor São Paulo reached mass automobile production before 1950. The consolidation of the clusters required the adoption of strategic industrial policy during the golden age of capitalism. This policy succeeded in encouraging a few hub firms to undertake mass production by using domestic parts. The strategic policy also favored these leading corporations transferring their technical, organizational, and distribution capabilities, which in turn amplified the advantages of the clusters. Local institutions did not make a significant contribution.

Where Imperialism Could Not Reach examines the impact of the Japanese model of industrialization on China through a history of policy recommendations and economic ideas in practice. In the aftermath of the First Sino-Japanese War (1894–1895), Chinese regional policymakers learned a Japanese-style industrial policy that focused on the use of exhibitions and schools to disseminate information and stimulate rural innovation. In focusing on the treaty ports and the impact of European and American capitalism that has a larger and more quantifiable source base, many scholars have ignored the vital intra-Asian dimensions of China’s economic development, underpinned by shared position of China and Japan on the global semiperiphery and the pursuit of labor-intensive industrialization focusing on improvements to labor quality. The dissertation also aims to demonstrate the primary importance of information and incentives for innovation—rather than overcoming capital constraints—in Chinese strategies for economic growth.

Whereas the globalization of medicine since the middle of the 19th century has primarily been approached as the sociopolitical and cultural outcome of imperialism, this article argues that Western big business also played a major role through the worldwide export of standardized medical technologies. It focuses on the expansion of Siemens on the X-ray equipment market in non-Western countries during the first half of the twentieth century. This German multinational enterprise experienced slight growth from the mid-1920s onwards but relied mainly on two markets (Argentina and Brazil). It specialized in providing large-scale equipment to a few urban hospitals and engaged during the 1930s in large-scale hospital development together with local authorities and international organizations in various countries (China, Peru, and Central Africa). However, Siemens had great difficulty in expanding its business to include private doctors and inland outlets, where it faced intense competition from other Western X-ray producers. This paper emphasizes that this shortcoming stemmed from a direct application of the European strategy (high-quality, expensive equipment for hospitals) to non-Western markets, where health systems differed.

The professional institutions of loss adjusting in Australasia were shaped by a range of postcolonial developments, including adhesion to the British badge of organizational prestige, the Royal Charter. The aim of this paper is to explore how a single exogenous shock to the institution of loss adjusting in Australia enhanced a sense of national identity, altering the future of those institutions. Our conclusions are based on over sixty interviews with loss adjusters in three countries and the archives of several Australasian loss adjusting institutions dating back to the late 1800s. Archival material included correspondence, meeting minutes, various memorandum, newspaper clippings, membership lists, criteria for barriers to entry, records of lobbying efforts, disciplinary actions, and educational material. Reus-Smit (2002, 2017), Bell (2009), and Rae (2017) have developed the understanding of the role collective cultural and national identities play in institutionalism, whereas Suddaby et al. (2007, 2011) have contributed to the theory of field-level institutional change. Building on the literature of Suddaby et al., this paper appraises how a single historic natural event triggered normative changes impacting the institution of loss adjusting in the region.

During the 1970s, religious activists were heavily involved in national and international campaigns against multinationals and urged firms to adapt their behavior to align with Christian ethics. This article analyzes the strategies of Nestlé in addressing religious activism at three levels: national, international, and organizational. The analysis examines Nestlé’s collaboration with other Swiss and European multinationals and high-ranking church representatives in establishing dialogue platforms that sought to improve mutual understanding and promote tolerance for global capitalism. Nestlé also contributed to the creation of guidelines for the main churches in Switzerland that were aimed at their partial depoliticization. When Nestlé’s executives faced religious shareholder activists during its shareholders’ annual general meetings, they chose to engage with them to avoid their radicalization, although most of their demands ultimately remained unanswered. Overall, Nestlé contributed to the reorientation of religious discussions to small-scale ethical problems and business self-regulation rather than to substantial reforms of the capitalist economic system.

During the interwar period, Lysol Disinfectant was sold throughout Canada and the United States as a contraceptive douche for women. In fact, Lysol became the leading over-the-counter contraceptive sold on the euphemistically termed “feminine hygiene” market. Though the sale of contraceptives were illegal in both Canada and the United States since the latter part of the nineteenth century, by the 1920s, astute manufacturers were selling goods with supposedly contraceptive properties, including vaginal jellies, foaming tablets, and as was the case with Lysol, vaginal douches. As contemporaries argued, advertising played a central role in the success of the feminine hygiene industry. This article investigates Lysol's interwar advertising campaign to determine how the company attempted to communicate the purpose of its product to white, literate, married, Anglo-Saxon, middle-class female consumers while evading legal ramifications. It argues that North American Lysol advertisements were designed using euphemistic language and emergent modern advertising techniques that appealed to consumers' emotions (as opposed to their sense of reason as had previously been the case) to capitalize upon contextually specific trends, including women's fear of premature aging and loss of sexual attractiveness, the danger of maternal morbidity and mortality, as well as the threat of marital disunity, to convey the intended purpose of the product. This work also demonstrates the central importance of considering the historical context of companies' intended consumers when analyzing historical advertising and marketing campaigns.