Business History eJournal最新文献

{"title":"Continuity and Change in Construction Procurement","authors":"Gerard de Valence","doi":"10.2139/ssrn.3870515","DOIUrl":"https://doi.org/10.2139/ssrn.3870515","url":null,"abstract":"This short history describes the evolution of procurement in the building and construction industry, from the early modern system of craft production in the seventeenth and eighteenth centuries to the emergence of the general contractor and the professions with modern methods of procurement in the nineteenth century. Procurement here is the commissioning or purchasing of buildings and structures, and any associated supplies and services required, by a client that pays for the work. A historical review is useful because there is a surprising, and often not well-recognized, continuity in the methods used and problems found. While ideas like competitive tendering, enforceable contracts, subcontracting and measurement of costs with a bill of quantities are now widespread and common, this was not the case 200 years ago and these innovations came with the industrial revolution that began in England in the eighteenth century. In other countries, especially the US and elsewhere in Europe, the details of their history of procurement are different, but the methods of tendering, contracting and the professions that emerged in England around the turn of the eighteenth century became the basis of the modern system of construction procurement.","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115414041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"William Henry Cavendish-Bentinck-Scott, 4th Duke of Portland","authors":"E. Sutherland","doi":"10.2139/ssrn.3485723","DOIUrl":"https://doi.org/10.2139/ssrn.3485723","url":null,"abstract":"Born in 1768, William Henry Cavendish-Bentinck succeeded as 4th Duke of Portland in 1809, on the death of his father, sometime Prime Minister and Whig leader. While Marquis of Titchfield he sat in the House of Commons and later as Duke in the Lords, he had limited engagement with politics, which he left to his father, brother-in-law (George Canning) and son. Like his grandfather he married a wealthy heiress, expunging the debts of his father. Henrietta Scott brought substantial estates to the marriage, including active and potential Ayrshire coal mines, which necessitated the construction of a waggon way to a new harbour at Troon. When he inherited the family estates he was able to tackle its debts from revenues from the new Scottish properties, through agricultural improvement and urban development in Marylebone. He left the 5th Duke a massive and solvent estate across Great Britain.","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123813243","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Emergence of Modern Impersonal Exchange: Role of Formalization in the Rise of Modern Capitalism","authors":"Prateek Raj","doi":"10.2139/ssrn.3033861","DOIUrl":"https://doi.org/10.2139/ssrn.3033861","url":null,"abstract":"I develop an evolutionary framework to study when firms formalize and voluntarily establish internal “order and discipline” in their conduct, in a traditional relational economy, to conduct impersonal market-based exchange. Impersonal exchange can emerge if benefit from doing business at arm’s length is large (utility condition), and if firms above a threshold adopt such formalization (formalization condition). Cycles, where formalization and impersonal exchange follows opportunism and cautious relational exchange, characterize impersonal exchange. I also discuss the endogenous emergence of market-supporting public institutions, and the rise of impersonal markets in sixteenth century Northwestern Europe.","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131707353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Samuelson’s Neoclassical Synthesis Did Not Betray Keynes: Keynes Had Offered Just Such a Synthesis in the General Theory, As Well As to Hicks and Harrod in Correspondence, in 1936","authors":"M. E. Brady","doi":"10.2139/ssrn.3290126","DOIUrl":"https://doi.org/10.2139/ssrn.3290126","url":null,"abstract":"In a recent reprint of material taken from R. E. A. Farmer’s recent 2017 book, Prosperity for All, certain misrepresentations of Paul Samuelson’s work and J M Keynes’s work is presented. For example, in the presence of a high unemployment rate, following a severe recession or depression, Samuelson’s prescription is the use of expansionary fiscal policy that involves large government deficits to finance major public works, public goods, and public infrastructure spending to replace the large gap resulting from the collapse in private investment spending. This will increase p, the general price level, while reducing the real wage, w/p. This will result in an increase in employment and a fall in the unemployment. The unemployment rate will start to move back toward the full employment target rate of 4 %. The problem is not that money wages are too high, but that, due to decreased private corporate investment spending, spending on investment goods is too low, so that the overall price level is too high, resulting in a higher than optimal real wage. This higher real wage is misinterpreted as being due to money wages that are too high, while, in reality, it is due to insufficient spending on investment goods that is too low. <br><br>J M Keynes, in December 1933, invented and taught the IS-LM(LP) model. An inferior version of it was developed by Keynes and appeared in the mid 1934 draft copy of the General Theory. An improved, revised version of it was presented in the General Theory in chapter 15 and chapter 21 on pp.298-299 in 1936. The aggregate price level was not determined in Keynes’s IS-LM(LP) model. It is determined by Keynes in a separate, supporting model, which Keynes called his D-Z model, which appeared in chapters 20 and 21. Keynes developed the Aggregate Supply Curve (ASC) in aggregate Income-employment (D, Y, Z; N) space. This ASC represents a locus of all multiple equilibrium, optimal D=Z outcomes, all of which satisfy the necessary and sufficient first and second order conditions for an expected profit maximum. The first order conditions are that the expected real wage equals the marginal product of labor. Keynes presented two simplified versions of his ASC on pp.295-296 of the General Theory, which has the familiar completely horizontal, completely elastic, range of the standard textbook aggregate supply curve in (O,P) space where O=a function of N, and PO equals aggregate income. PO is Keynes’s Y; pO, expected aggregate income, is Keynes’s D. N is aggregate employment. <br><br>Both Keynes and Samuelson realized that Frisch’s reconstituted version of K. Wicksell’s rocking horse (pendulum) model could only involve negative feedback. It does not, and could not, involve the positive feedback effects resulting from the interaction of the multiplier and accelerator models, first presented by Keynes in his correspondence with Harrod in August, 1938, in discussions over his economic growth model using a first order, difference equation, and s","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125948253","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Longitudinal Study of Seylan Bank, Sri Lanka from 1996 to 2008","authors":"C. Saliya","doi":"10.2139/ssrn.3193922","DOIUrl":"https://doi.org/10.2139/ssrn.3193922","url":null,"abstract":"Seylan Bank was established in 1986 and became the forth private listed commercial bank in Sri Lanka in 1988. With a special permission from the central bank, the promoters of the bank, the Ceylinco Group of companies, had 18% of share ownership. The other two majour shareholders were Rosy Blue Finance S.A. (10%) which was believed to have close links with the Ceylinco Group (CI-Ratings, 1996)and the National Development Bank (8%). The Banking Act allows only 10% of shareholding by a person or persons who are acting in concert (\"The Banking Act,\" 1993). The Security Exchange Act in Sri Lanka restricts holding shares by any single shareholder to 5% in a company listed in the Colombo Stock Exchange(\"The Securities Exchange Act,\" 1987). Therefore, Ceylinco group strategically acquired the controlling power of the bank through several employee ownership trusts in 2001. The Seylan bank provided credit facilities to those trusts and they started buying shares from the market gradually up to 5% of the total shares. By 2005 these employee ownership trusts collectively had a 27% of the ownership of the Seylan bank and therefore, Ceylinco group comfortably had more than 55% of the ownership(Fitch-Ratings, 2005a). The banking act prohibits lend money to purchase its own shares but the loophole explored by the Seylan bank board of directors was that, if the beneficiary is the employees of the bank such purchases are exempt from this requirement.","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115012432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Origins of the Economics of Innovation","authors":"M. Coccia","doi":"10.1453/JEST.V5I1.1574","DOIUrl":"https://doi.org/10.1453/JEST.V5I1.1574","url":null,"abstract":"This study suggests that the origins of the economics of technical change go back to many years before Schumpeter’s contributions. The Scottish philosopher John Rae with his book Statement of Some New Principles on the Subject of Political Economy, issued in 1834, put forward the basis of the Economics of innovation individuating the nature, causes of technological innovations (e.g., steam engine) and effects of technological progress on economic growth of nations. Rae also discusses the evolution and role of vital technologies for the wealth and employment in Europe and North America. Overall, then, Rae’s work is basic for the origin of the Economics of innovation, for defining the domain of this discipline and for explaining the effects of vital technologies in society. However, the conclusions of this study are tentative. There is need for much more detailed research into this research topic.","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122716953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Le Paysage Français Des Innovations Sociales Numériques (An Overview of Digital Social Innovations in France)","authors":"Cédric Gossart, Muge Ozman","doi":"10.2139/ssrn.3056352","DOIUrl":"https://doi.org/10.2139/ssrn.3056352","url":null,"abstract":"French Abstract: Ce chapitre dresse un paysage des innovations sociales numeriques en France. Apres les avoir definies, leur contexte est presente et une typologie est proposee, a la lumiere de pres d’une centaine d’etudes de cas. \u0000English Abstract: This chapter offers an overview of digital social innovations in France. After having defined them, we present their context and offer a typology based on about 100 cases.","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130329562","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Social Ontology and the Modern Corporation","authors":"J. Veldman, H. Willmott","doi":"10.1093/CJE/BEX043","DOIUrl":"https://doi.org/10.1093/CJE/BEX043","url":null,"abstract":"In an assessment of Lawson’s social ontological analysis of the modern corporation, we consider what is marginalized: the significance of the status and the effects of the separate legal entity (SLE). The SLE is conceived as a specific type of construct that is ascribed particular properties through its stabilization within and between different (legal and economic) discourses. By showing how the SLE, as a reified construct, is rendered meaningful, real and/or consequential, we illustrate how the ‘social ontology’ of the modern corporation is radically contingent and inescapably contested. Given that the social ontology of the corporation defies definitive specification, we regard the prospect of the completeness of its disclosure (e.g. by foregrounding a specific referent) as problematic. Indeed, any account of social ontology that foregrounds a specific referent is seen to obscure a political process in which the stabilization of the SLE rests on the contingent foregrounding of particular priorities. This leads us to reflect on the power-inflected social organization of knowledge generation. Key to the explication of social ontology, and with specific reference to the corporation, is not, as Lawson contends, the concept of ‘community’ but the inescapability of contestation within relations of power that translate ontological openness into specific but precarious forms of ontic closure.","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126490493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"So Said Laozi: How Daoism Explains 'Creating Shared Value'","authors":"Joseph L. Pratt","doi":"10.2139/ssrn.2843368","DOIUrl":"https://doi.org/10.2139/ssrn.2843368","url":null,"abstract":"In January 2011 Harvard Business School Professor Michael Porter and his long-time corporate responsibility collaborator Mark Kramer advanced the principle of “Creating Shared Value” (CSV). Heralded as “The Big Idea” in the Harvard Business Review, CSV promised to transcend the longstanding divide between a company’s pursuit of financial profit and its larger obligations to society. Though the likes of the Clinton Global Initiative have backed CSV, many commentators have criticized it as being either a cherry-picked version of “Corporate Social Responsibility” (CSR), and therefore unoriginal, or simply an unrealistic socio-economic agenda. Daoism, an ancient Chinese wisdom, dispels this latter skepticism by explaining why CSV is possible and how such a change would work in practice. It also shows how CSR, and the economic system upon which it is based, is unsustainable. In the end, Daoism suggests that CSV may even hold the key to returning society to a genuine state of liberty.","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129830506","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Theory and Professionals: Impact of HRM on Economy","authors":"G. Uysal","doi":"10.17265/1537-1506/2016.10.005","DOIUrl":"https://doi.org/10.17265/1537-1506/2016.10.005","url":null,"abstract":"Firms produce national GDP in an economy. There are several functions in firm management, and managers operate those functions. They are logistics, supply, stock, finance, accounting, marketing, production, etc.. All have managers such as accounting manager, finance manager, marketing manager, etc.. The performance of managers is crucial to firm performance, because the performance of managers might become one determinant of firm performance. Therefore, HRM may have an impact on GDP through managers, because productions and sales of firms affect GDPs and economy. Further, professionals or managers must have theoretical knowledge in their field, as theoretical knowledge increases their performance at work.","PeriodicalId":245549,"journal":{"name":"Business History eJournal","volume":"313 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116457897","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}