The aim of this discussion is to elucidate the evolution of the management concepts, organizational patterns, and policies of the Standard Oil Company (New Jersey). In point of fact, these topics are discussed primarily with reference to the origin and development of the Standard Oil combination under its various legal titles prior to 1911. The policies and practices, both sound and unsound, of the men who administered the Jersey Company in its early years were largely those of the men who created the combination.

Financially, the Federal Government was more poorly prepared for war in the early months of 1861 than it had been since its establishment. The financial policies of the government in the period preceding the war weakened its credit; and this, along with the urgency of the conflict, was to make short-term borrowing and the printing of paper money attractive but costly wartime expedients. Although the failure to finance the war on a sound basis cannot be ascribed merely to prewar financial conditions and policies, the stage was set by them. The regression to earlier methods of war finance began even before the war.

This paper analyzes 1850 cost data for a sample of 36 steamboats operating on five routes. The results indicate no economies or diseconomies of scale. Substantial differences in the cost per ton-mile are found between routes. These differences are largely explained by differences in capacity utilization.

Almost two decades ago, Professor Frederic C. Lane, assisted by Dr. Jelle C. Riemersma, prepared a book of readings in economic history, published in 1953, by Richard D. Irwin, Inc., under the title Enterprise and Secular Change. At that time I suggested the inclusion after translation of Arthur Spiethoff's article, “Die Allgemeine Volkswirtschaftslehre als geschichtliche Theorie: Die Wirtschaftsstile,” published in the Festgabe für Sombart in Schmollers Jahrbuch, LVI, No. 6 (1932), 51 fr. When Professor Spiethoff was informed of this suggestion, he refused to give the needed permission since his ideas on the subject had matured. Instead he sent an original article consisting of several sections, some of which I translated. Spiethoff's pertinent ideas were then published in translation in America in two separate papers. One, entitled “The ‘Historical’ Character of Economic Theories,” is to be found in the Journal of Economic History, XII (1952), 131 ff; the other, “Pure Theory and Gestalt Theory: Ideal Types and Real Types,” appeared in the Lane-Riemersma reader just cited. The rest of Spiethoff's original article remained untranslated. One section of it is now being submitted.

This paper assesses the causal relationship between POW assignments and labor productivity for a vital sector of the German World War I economy, namely coal mining. Prisoners of war (POWs) provided significant labor. Combining data on all Ruhr mines with a treatment-effects approach, I find that POW employment alone accounted for 36 percent of the average POW-employing mine’s annual productivity decline over wartime. Estimates also suggest that the representative POW’s productivity averaged 32 percent of the representative regular miner’s productivity and that POWs’ contribution to wartime coal output amounted to 3.9 percent. Violence did not serve as a powerful work incentive.

Sumptuary laws that regulated clothing based on social status were an important part of the political economy of premodern states. We introduce a model that captures the notion that consumption by ordinary citizens poses a status threat to ruling elites. Our model predicts a non-monotonic effect of income—sumptuary legislation initially increases with income, but then falls as income increases further. The initial rise is more likely for states with less extractive institutions, whose ruling elites face a greater status threat from the rising commercial class. We test these predictions using a new dataset of country and city-level sumptuary laws.

It is unfortunately an established fact that both men and womenfolk have, in utterly irresponsible manner, driven extravagance in dress and new styles to such shameful and wanton extremes that the different classes are barely to be known apart.

Recent scholarship contends that ancient Mediterranean economies grew intensively. An explanation is that Smithian growth was spurred by reductions in transaction costs and increased trade flows. This paper argues that an ancient Greek institution, proxenia, was among the key innovations that allowed such growth in the period 500–0 BCE. Proxenia entailed a Greek city-state declaring a foreigner to be its “public friend,” a status that conferred both duties and privileges. The functions performed by “public friends” could facilitate economic transactions between communities. Accordingly, network and regression analyses establish a strong relationship between proxenia grants and trade intensity.

We use data from marriage records in Murcia, Spain, in the eighteenth century to study the role of women in social mobility in the pre-modern era. Our measure of social standing is identification as a don or doña, an honorific denoting high, though not necessarily noble, status. We show that this measure, which is acquired over the lifecycle, shows gendered transmission patterns. In particular, same-sex transmission is stronger than opposite-sex, for both sons and daughters. The relative transmission from fathers versus mothers varies over the lifecycle, and grandparents may affect the status of their grandchildren.

We present quantitative evidence that the mita introduced by the Spanish crown in 1573 caused the decimation of the native-born male population. The mass baptisms after the conquest of Peru in 1532 resulted in the assignation of surnames for the first time. We argue that past mortality displacement and mass out-migration were responsible for differences in the surnames observed in mita and non-mita districts today. Using a regression discontinuity and data from the Peruvian Electoral Roll of 2011, we find that mita districts have 47 log points fewer surnames than non-mita districts, and fewer surnames exclusive to one location.

The Crees of Saskatchewan adjusted their economic life in reaction to their long and interdependent relationship with European fur traders. For the period from the late eighteenth through the mid-nineteenth century, this paper examines one aspect of the Crees' economic adjustment to the fur trade, the limiting of access to the land and its resources to conserve the fragile supply of furbearmg animals. Hudson's Bay Company documents and studies by anthropologists provide the basis for this economic study.

In the 1970s Robert Lucas's research revolutionized the study of business cycles, and in 1995 he was awarded the Nobel Prize in Economic Science for this work. However, in 1985 he had already decided that, “I did not look forward to the prospect of spending the latter half of my career trying to hang on to what I had done in the first half” (p. 2). Thus, he embarked on a new task: understanding economic growth.

This book collects Lucas's writing (from 1985 to 1997) on economic growth. In his words, its “general theme … is the attempt to adapt modern growth theory, originally developed to describe the behavior of the industrialized economies, to obtain a unified understanding of rich and poor economies alike in a world of vast income and growth rate differences” (p. 1). This theme is carried through an introduction and five chapters, four of which have been published previously as journal articles.