Research into the organization of the firm typically contrasts family businesses with impersonal corporate structures, and kinship ties among corporate elites are often associated with inefficiency and corruption. This analysis of over 14,000 equity investors and executive officers finds that familial networks were embedded in early corporations, not just among directors but also among small shareholders in the firm. Related investing was especially prominent among women and other relatively disadvantaged groups. Personal ties in newer, riskier enterprises encouraged capital mobilization in emerging ventures and persistence in shareholding, and related investing was significantly associated with lower risk of corporate bank failures. The results support a more positive view of family networks in business organizations and in overall economic development.

Retracing closely the events of the life of George Frederic, king of the Miskitu (in present-day Honduras and Nicaragua) between 1816 and 1824, this article describes how this Miskitu actor sought to set up, by hiring British agents, the concrete realization of a Central American commercial and political independence project—understood here as a utopia. Although his project ended in failure, the actions of this little-known Miskitu king had repercussions in the Caribbean and beyond, even in the heart of the City of London. Concentrating on a marginal actor seldom considered by historians reveals how particular American Indigenous peoples sought to actively position themselves in the important commercial and political transformations affecting the Atlantic World in the first decades of the nineteenth century.

The Japanese match industry is an early case of an industry that changed global market dynamics by building international competitiveness through combining low-cost and low-price strategies with product differentiation. This differentiation was achieved through the registration of trademarks for all matches exported, total quality control, and strong investments in graphic design to adapt brands and their imagery to different host markets and cultures. This study shows how trademark data provides alternative and complementary angles on particular economic phenomena—in this case, on how industries and countries build global competitiveness despite being technologically less developed.

The history of Plan Calcul―France's first information technology program, launched by de Gaulle's government in 1966―has been well described in the literature; however, few studies investigate the arsenal system of the program in depth. Drawing from Plan Calcul's archives, this article is the first to demonstrate that, in the context of de Gaulle's Cold War foreign policy, the French government, initially aiming to avoid an arsenal system, still became the program's funding supplier, entrepreneur, and client. Plan Calcul aimed to establish an industrial-type operation but was ultimately reduced to a state information technology arsenal program.

Warren Buffett famously commented that the U.S. airline industry had made zero profit in its first nine decades. Subsequently, between the millennium and the Great Financial Crisis the airlines in total lost almost $60 billion. Yet no major airline was liquidated or taken over in those nine years. Financial support was repeatedly provided by GE, the conglomerate supplier of leasing finance, engines, and servicing. The article offers a historical perspective on the factors behind this relationship between GE and airlines. It outlines the benefits or costs to GE, airline shareholders, and passengers; the relevance of the model for other industries; and implications for different notions of efficiency.

When people ask me, as they often do, to recommend a single-volume overview of American economic history, I always feel stumped. Sometimes I suggest textbooks in the field, sadly all out of date at this writing, and sometimes monographs that cover specific periods or topics. Now, finally, I have a good answer. I can recommend Jonathan Levy's Ages of American Capitalism. A comprehensive narrative that runs from the colonial period through the recent financial crisis, the book is broader than the accounts most economic historians would offer in that it pays considerable attention to Americans’ cultural responses to economic change. At the same, time, however, it provides up-to-date coverage of the relevant economics literature, making it accessible to readers not able to follow the econometrics. Undoubtedly, specialists will find things to quibble about. I did. But that goes with the territory. The bottom line is that Ages of American Capitalism is an impressive work of synthesis that everyone interested in American history should read.