Richard Dale. The First Crash: Lessons from the South Sea Bubble. Princeton, N.J.: Princeton University Press, 2004. vi + 192 pp. ISBN 0-691-11971-6, $29.95.

In The First Crash: Lessons from the South Sea Bubble RichardDale offers an easy-to-read history of the South Sea Bubbleof 1720. Though many others have written on the subject, Dalepens this contribution to argue that the South Sea Bubble wasdriven by irrational investors. Because the South Sea Bubblewas the first modern financial bubble, Dale seeks to establishthat irrational behavior began forming bubbles three     

Robert C. Allen. Farm to Factory: A Reinterpretation of the Soviet Industrial Revolution. Princeton, N.J.: Princeton University Press, 2003. xv + 301 pp. ISBN 0-691-00696-2, $45.00 (cloth).

In this collection of concisely argued essays, Robert C. Allenreexamines several important questions familiar to anyone interestedin Soviet history: the hypothetical development of Russia inthe absence of the 1917 Bolshevik Revolution; the standing ofRussia’s and the Soviet Union’s economic and demographicdevelopment in relation to other countries; the controversysurrounding the strategy for economic development after therevolution; the reasons for Stalin’s rapid industrializationand the role of the agricultural sector in it; and     

Frank Dobbin, ed. The New Economic Sociology: A Reader. Princeton, N.J.: Princeton University Press, 2004. vii + 565 pp. ISBN 0-691-04905-X, $65.00 (cloth); 0-691-04906-8, $27.95 (paper).

This volume is designed to ease the entry of advanced sociologystudents into the growing literature in their discipline aboutmarkets and the organizations and individuals who operate withinthem. It can serve this useful function for business historiansas well, although it will take some tenacity on the part of"splitters" to make sense of what the "lumpers" are gettingat. The collection’s twenty chapters include articles fromleading journals and book excerpts and are organized around     

Sanford Jacoby. The Embedded Corporation: Corporate Governance and Employment Relations in Japan and the United States. Princeton, N.J.: Princeton University Press, 2004. xi + 216 pp. ISBN 0-691-11999-6, $35.00.

This is a very interesting examination of the fate of humanrelations (HR) departments within Japanese and U.S. corporations.Its focus is on the contemporary period and on the pressuresfor change facing both the U.S. and Japanese systems. But italso spends some helpful time situating the current processesof change in historical context. In general, Jacoby is veryinsistent that the changes that occur within the corporationregarding the relative power and function of HR cannot be understoodwithout first understanding the position of     

Richard Coopey, ed. Information and Technology Policy: An International History. New York: Oxford University Press, 2004. xvi + 346 pp. ISBN 0-19-924105-8, $99.50 (cloth).

Richard Coopey’s Information and Technology Policy isan edited volume featuring an impressive array of scholars whoprovide nuanced accounts of national governmental policies relatedto the computer and (to a lesser extent) software industries.As Coopey writes in his introduction, the post–World WarII period is remembered as a time of American political, economic,and technological ascendancy. In the design, manufacture, anddistribution of computers, the United     

Jan Luiten van Zanden and Arthur van Riel. The Strictures of Inheritance: The Dutch Economy in the Nineteenth Century. Princeton, N.J.: Princeton University Press, 2004. xv + 377 pp. ISBN 0-691-11438-2, $55.00 (cloth).

The economic history of the Netherlands during the nineteenthcentury demonstrates some remarkable features when comparedwith other countries such as the United Kingdom or Belgium.Dutch industrialization is "slow," "late," and even "different,"often attributed to a lack of natural resources (like coal andore) and/or entrepreneurial spirit. This protracted developmentgenerated some debate between Dutch historians, but no consensuswas reached until the publication in 1968 of J. A. de Jonge’sbook on Dutch industrialization between 1850 and     

Brett Williams. Debt for Sale: A Social History of the Credit Trap. Philadelphia: University of Pennsylvania Press, 2004. 154 pp. ISBN 0-8122-3817-6, $24.95 (cloth).

This volume covers a social history of modern consumer credit,specifically, credit card debt, pawnshops, and storefronts thatoffer check-cashing services and paycheck loans. Consumer creditis largely a product of the past half century. Diners Club issuedits first credit cards in 1951, and Carte Blanche, AmericanExpress, and other entities soon followed suit. In the 1970sthe advent of computers and the deregulation of banking resultedin an explosion in the use of credit cards. Initially, credit     

Richard K. Lester and Michael J. Piore. Innovation: The Missing Dimension. Cambridge, Mass.: Harvard University Press, 2004. ix + 223 pp. ISBN 0-674-01581-9, $24.95.

Interpretation and analysis are two antithetical ways of thinking,yet both must happen simultaneously to achieve innovation. Sostate Richard Lester and Michael Piore in explaining the needto better understand the role of interpretation in new productdevelopment. Lester leads the Industrial Performance Centerat the Massachusetts Institute of Technology, and this bookis largely a work in industrial policy. Still, this     

Elisabeth Koll. From Cotton Mill to Business Empire: The Emergence of Regional Enterprises in Modern China. Cambridge, Mass.: Harvard University Press, 2004. xvi + 422 pp. ISBN 0-674-01394-8, $49.50 (cloth).

Elisabeth Köll has written more than a book about ZhangJian (1853–1926), a pioneer of modern business in China.This is an important study of enterprise organization, managementpractice, and the means by which Zhang’s Dasheng enterprisegroup changed the political economy of provincial Nantong, aYangzi River city near Shanghai. The author is focused firstlyon control and accountability in the management of the enterpriseand secondly on the institutional transfer—"the interpretation,adaptation and application" (p. 4)—of Western corporatestructures, such as the limited liability firm, to the Chinesebusiness     

Lisa Jacobson. Raising Consumers: Children and the American Mass Market in the Early Twentieth Century. New York: Columbia University Press, 2004. xvi + 299 pp. ISBN 0-231-11388-9, $35.00 (cloth).

Ever since the publication of Thorstein Veblen’s Theoryof the Leisure Class (1899), economists and other social scientistshave studied the importance of consumption to the economy ofthe United States. There are numerous studies of patterns ofconsumption, but, Jacobson argues, the role of children hasbeen seriously neglected. The children Jacobson studies werenot just miniature shoppers; they were "cultural icons" whohelped to establish the legitimacy of consumption in Americansociety (p. 2). Early in the twentieth century     

Thomas A. Kinney. The Carriage Trade: Making Horse-Drawn Vehicles in America. Baltimore, Md.: Johns Hopkins University Press, 2004. xi + 381 pp. ISBN 0-8018-7946-9, $49.95 (cloth).

Although ‘horse and buggy’ usually connotes a quainticon of the preindustrial world, The Carriage Trade by ThomasA. Kinney shows that horse-drawn vehicles were anything butquaint. Carriage and wagon making was a major nineteenth-centuryindustry, employing by 1890 130,000 employees in 13,000 firmsproducing $200 million in value (p. 262). These firms were leadersin production, management, and marketing innovations. Kinney’sstraightforward account shows how mechanization, interchangeability,and rationalization changed the nature of     

Andre Millard, ed. The Electric Guitar: A History of an American Icon. Baltimore, Md.: Johns Hopkins University Press, 2004. x + 215 pp. ISBN 0-8018-7862-4, $45.00 (cloth).

In 1996 the Jerome and Dorothy Lemelson Center for the Studyof Invention and Innovation sponsored a symposium, "Electrified,Amplified, and Deified: The Electric Guitar, Its Makers, andIts Players." This book distills and amplifies the scholarshipin that encounter between researchers, innovators, and practitioners.The editor takes up where speakers left off and contributesthe introduction, conclusion, and five of nine chapters. Millardmakes a case for the electric guitar as a totem of modern Americanculture. Intended for the general     

Paul J. Kubicek. Organized Labor in Postcommunist States: From Solidarity to Infirmity. Pittsburgh, Pa.: University of Pittsburgh Press, 2004. xiv + 256 pp. ISBN 0-8229-5856-2, $29.95 (paper).

Labor unions in formerly communist societies have gone, in justfifteen years, from being large and sometimes very powerfulorganizations—think of Poland’s Solidarity—tobeing much smaller and weaker organizations. In discussing thisweakness, Paul Kubicek notes the irony that workers in communistsocieties "were able to organize to help overthrow a systemthat purportedly ruled in their name. However, they are poorlypoised to do battle against governments and policies that makelittle pretense to serve their interests"     

Kevin Binfield. Writings of the Luddites. Baltimore, Md.: Johns Hopkins University Press, 2004. xxviii + 279 pp. ISBN 0-8018-7612-5, $49.95 (cloth).

On the whole this volume offers more than its title suggests.Kevin Binfield has collected and annotated a wide array of textsconcerning not only the specific activities of the Ludditesbut also the wider economic and political contention of the1810s. He takes as his purpose the "textual recovery" of workingpeoples’ rhetorical strategies from the Luddite era. Todo this, he has thoroughly scoured national, county, and cityarchives, local newspapers, collections of several major businesses     

Kenneth Lipartito and David B. Sicilia, eds. Constructing Corporate America: History, Politics, and Culture. New York: Oxford University Press, 2004. xii + 369 pp. ISBN 0-19-925189-4, $99.50 (cloth); 0-19-925190-8, $29.95 (paper).

Rationality, efficiency, meritocracy, productivity, innovation,professionalism: the people who have built, operated, and championedAmerican corporations have claimed these goals and means inorder to explain how and why limited liability firms evolvedin the United States. Such powerful constructions of ideas—noless than of steel—have seduced generations of analystsand citizens into accepting once contested corporate forms asthe inevitable outcomes of irresistible economic processes. The great achievements of Constructing Corporate America liein its compelling demonstrations that U.S. corporations’forms, functions, and discourses evolved—and still change—asproducts of their     

Janelle S. Taylor, Linda L. Layne, and Danielle F. Wozniak, eds. Consuming Motherhood. New Brunswick, N.J.: Rutgers University Press, 2004. ix + 323 pp. ISBN 0-8135-3429-1, $62.00 (cloth); 0-8135-3430-5, $22.95 (paper).

Motherhood imposes a birth of sorts for the women involved,according to the various authors in this exceptionally wellintegrated and provocative volume of essays. Women are rebornto a new status of ‘mother’ and simultaneously asa new kind of consumer of goods—goods in the form of services,consumer products, and even of babies. This volume weds thestudy of consumerism to the anthropological study of motherhoodand represents a genuine contribution to an array of fields,including     

Walter A. Friedman. Birth of a Salesman: The Transformation of Selling in America. Cambridge, Mass.: Harvard University Press, 2004. 356 pp. ISBN 0-674-01298-4, $27.95.

Given the centrality of selling to the emergence of the modernbusiness corporation, it is surprising that there has been nofull-length study of the subject before. Walter A. Friedman’spathbreaking Birth of a Salesman is a truly welcome attemptto fill this void. While he begins with earlier developmentsin selling techniques, Friedman’s real focus is on theemergence of "modern" selling, when the selling process becamesystematically organized and managed. Friedman maintains thatthis came about in the United States, not in Europe,     

Gijs Mom. The Electric Vehicle: Technology and Expectations in the Automobile Age. Baltimore: Johns Hopkins University Press, 2004. xiii + 423 pp. ISBN 0-8018-7138-7, $54.95.

Automotive historians have long dismissed the electric vehicle;who would want a car with limited speed that had to be rechargedevery hundred miles? But in 1905, Gijs Mom reminds us, "morethan half of all commercial vehicles in the United States wereelectric powered," and by 1940 tens of thousands of electriccars and trucks had been produced (pp. 206, 265). In the UnitedStates and Europe, electric vehicles appeared as taxicabs, deliveryvans, and even fire engines, as     

Paul Sabin. Crude Politics: The California Oil Market, 1900-1940. Berkeley: University of California Press, 2004. xx + 307 pp. ISBN 0-520-24198-3, $39.95 (cloth).

Champions of the oil industry have long claimed that oil isthe cheapest form of energy. Why is it so cheap? The conventionalanswer emphasizes oil’s natural abundance and the wondersof market supply and demand. Most historians who study the industryat least implicitly accept this explanation. But is not resourceabundance a socially constructed concept? Can we so easily isolatemarket forces from politics and government policy in explainingthe cost and price of oil? These     

Jack Goody. Capitalism and Modernity: The Great Debate. Cambridge, U.K.: Polity Press, 2004. vii + 200 pp. ISBN 0-7456-3190-8, $56.95 (cloth); 0-7456-3191-6, $21.95 (paper).

When and why did the West gain its current economic advantageover the rest of the world? This topic is the source of an animateddebate within the academy today. Jack Goody, a noted socialanthropologist, analyzes these questions and offers his ownviews in his new book, Capitalism and Modernity: The Great Debate. The participants in this debate often have been divided intotwo broad camps. On the one side, which I will call here theEuropeanists, are those who