Essays in Economic & Business History <p>Currently in its 38th year of publication, <em>Essays in Economic &amp; Business History</em> now operates as an on-line open access journal with a print issue to coincide with the Society’s annual conference. Articles for the journal are selected by double blind review process. EEBH provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge. In this same spirit, accepted articles awaiting the next print issue are made available on-line as soon as the editorial process is completed.</p> The Economic and Business History Society en-US Essays in Economic & Business History 0896-226X Title Page & Table of Contents Mark Billings Daniel Giedeman Copyright (c) 2019 Essays in Economic & Business History 2019-06-30 2019-06-30 37 1 i v Avoiding “Musty Mutton Chops”: The Network Narrative of an American Merchant in London, 1771-1774 <p><br>Historians have increasingly been using network and narrative analysis as a means by which to explore their data. By doing so, they are able to explore how actors of interest used their relationships to undertake business and economic endeavors, and how, in turn, these were shaped by the discourse to which they had access. This paper presents a novel methodology using visual analytics to combine both social network (relationship) and textual (sentiment) analysis to visualize the information contained in historical sources over time. The definition of network narrative posited in this paper allows the historian to quantify and therefore assess the impact of, and reaction to, endogenous and exogenous events on actor networks. In order demonstrate the applicability of this approach, we apply it to the case study of Joshua Johnson, an American merchant in London during the 1772 credit crisis. This paper builds on the more recent network studies which show that networks were not only complex, but changed over time in reaction to events.</p> John Haggerty Sheryllynne Haggerty Copyright (c) 2019-06-30 2019-06-30 37 1 1 42 Was the African American Great Migration Delayed by Outlawing Emigrant Agents? <p>The question of why the Great Migration from the South did not begin before the 1910s remains open. The empirical significance of laws outlawing emigrant agents, who could have helped African Americans migrate, has not previously been considered. We analyze two natural experiments whereby one state had a law but its neighbor did not. We fail to find any significant effects of the laws. These results are consistent with demand and supply factors highlighted in the earlier literature delaying the Great Migration.</p> Khayen Prentice László Kónya David Prentice Copyright (c) 2019-06-30 2019-06-30 37 1 43 75 Microprocesses of Deregulation: The Swedish Experience of The Decentralisation of Education <p>Decentralization of education has been a recurrent policy debate in many countries. In 1989, the Swedish Parliament decided to transfer the political and economic responsibility for primary and secondary education from the state (the national level) to the municipalities. The reform, implemented in 1991/1992, increased the size of the Swedish municipal sector by one-fifth, making the reform one of the most sweeping in Swedish history. Despite broad support for the reform in Parliament, the process was slow, and deliberations continued for twenty years before the final decision was made. To understand the microprocesses underlying this decision and the slowness of the process itself, we refer to insights from behavioral economics. In addition to the empirical contribution, we show how behavioral economics can be used to improve historical analysis of decision-making processes. The article is based on studies of public records and on a unique set of interviews with key advisers and top-level decision makers, including the prime minister, which allow us not only to describe the process thoroughly but also to analyze it in the broader context of the Swedish welfare state.</p> Erik Lakomaa Richard Wahlund Copyright (c) 2019-06-30 2019-06-30 37 1 76 105 The Long-Run Effect of Geographically-Staggered Legalizations: Was There a First-Adopter Advantage for States That Legalized Beer More Quickly in 1933? <p><br>Over the last two decades a geographically staggered-legalization of marijuana has commenced in the United States. Early-legalizing states may subsequently enjoy a first-mover advantage which will help them stake a long-run foothold in what may evolve into a national market. To gain insight, we examine another geographically-staggered legalization—that of 3.2 percent beer. Between April 1933 and May 1937 every state legalized the production and sale of beer. Indeed we find that those states that legalized beer earlier in this period had more breweries not just in the years immediately following legalization, but also in 1977, just prior to the beginning of the craft brewing movement in the US. This finding holds even when variables related to long-term brewing tradition are held constant.</p> Eline Poelmans Samuel Raisanen Jason Taylor Copyright (c) 2019-06-30 2019-06-30 37 1 106 119 Dynamics of Innovation in the Electronic Watch Industry: A Comparative Business History of Longines (Switzerland) and Seiko (Japan), 1960-1980 <p>This article discusses the dynamics of innovation through a comparative business history of a Swiss watch company and a Japanese watch company. The design and production of quartz watches were major technological elements that enabled Japanese watch companies to strengthen their positions on the world market and challenge the traditional dominance of Swiss enterprises. A comparative analysis of the research and development activities at Longines (Switzerland) and Seiko (Japan), both of which promoted electronic watches in their respective countries, makes it possible to emphasize organizational differences and thereby shed light on the origins behind the competitiveness of Japanese watchmakers in the 1980s. This contribution argues that the dynamics of innovation resulted both from institutional differences between Switzerland and Japan, from the perspective of the Varieties of Capitalism and National Innovation Systems approaches, and from industry- specific and firm-specific institutional factors.</p> Pierre-Yves Donzé Copyright (c) 2019-06-30 2019-06-30 37 1 120 145 Statistics: Spur to Productivity or Publicity Stunt? London Underground Railways 1913-32 <p>A rapid deterioration in British railways’ financial results around 1900 sparked an intense debate about how productivity might be improved. As a comparison it was noted that US railways were much more productive and employed far more detailed statistical accounting methods, though the connection between the two was disputed and the distinction between the managerial and regulatory role of US statistical collection was unexplored. Nevertheless, The Railway Companies (Accounts and Returns) Act was passed in 1911 and from 1913 a continuous, detailed and standardized set of data was produced by all rail companies including the London underground. However, this did not prevent their eventual amalgamation into the London Passenger Transport Board in 1933 on grounds of efficiency. This article finds that despite the hopes of the protagonists, collecting more detailed statistics did not improve productivity and suggests that their primary use was in generating publicity to influence shareholders’, passengers’ and workers’ perceptions.</p> James Fowler Copyright (c) 2019-06-30 2019-06-30 37 1 146 179 George Scrope, Free Bankers, and The Bank Charter Act of 1833 <p>This article explores the contributions of George Poulett Scrope and the free bankers to monetary reforms in 1833 through their parliamentarian efforts by exploring Hansard recordings. Scrope joined a group of free bankers in the British Parliament to lead a partially successful effort to derail the Whig Government’s monetary reform plan. Many monetary economic historians do not emphasize these efforts and simplify the struggle as a pamphlet battle between the Currency School and the Banking School over the currency principle. Free bankers and Scrope were instrumental in defeating the government’s effort to eliminate any future joint-stock banking formations under the Banking Co- Partnership Act of 1826 and impose a royal chartering process on banks. The Bank Charter Act of 1833 was approved with a declaratory statement that made clear that joint-stock banks of deposit were allowed to operate within the 65 mile exclusion zone of London. These events allowed for a significant increase in joint- stock banking after 1833, which may have helped British economic development.</p> Paul Orzechowski Copyright (c) 2019-06-30 2019-06-30 37 1 180 205 The Language of the Emerging Financial Market and Early Eighteenth-Century English Plays <p>Between the end of the seventeenth century and the beginning of the eighteenth the birth and development of a flourishing financial market provided the English stage with a variety of new characters, situations and subjects. Most of the plays were written and/or performed in 1720, when the bursting of the South Sea Bubble bit many, but a number of other works had already been composed. In spite of their different aims–some purely satirical, others more curious or documentary–they all shared the interest in the fascinating new language of the market and, in some measure, contributed to its formation and development.</p> Laura Favero Carraro Copyright (c) 2019-06-30 2019-06-30 37 1 206 240 Gordon, Robert J. The Rise and Fall of American Growth: the US Standard of Living since the Civil War. Princeton, NJ: Princeton University Press, 2016. Leslie Hannah Copyright (c) 2020 Essays in Economic & Business History 2019-06-30 2019-06-30 37 1 242 249 Taylor, Jason E. Deconstructing the Monolith: The Microeconomics of the National Industrial Recovery Act. Chicago: University of Chicago Press, 2019. Louis Galambos Copyright (c) 2019-06-30 2019-06-30 37 1 249 251 Bátiz-Lazo, Bernardo. Cash and Dash: How ATMs and Computers Changed Banking. Oxford: Oxford University Press, 2018. Mark Crowley Copyright (c) 2019-06-30 2019-06-30 37 1 252 254 Goodman, Lizzy. Meet Me in the Bathroom: Rebirth and Rock and Roll in New York City, 2001-2011. New York: Harper Collins, 2017. Clayton Trutor Copyright (c) 2019-06-30 2019-06-30 37 1 255 257 Giffard, Hermione. Making Jet Engines in World War II: Britain, Germany, and the United States. Chicago: The University of Chicago Press, 2016. Erik Benson Copyright (c) 2019-06-30 2019-06-30 37 1 257 260 Editor's Notes & President's Report Mark Billings Daniel Giedeman Jari Eloranta Olli Turunen Copyright (c) 2019 Essays in Economic & Business History 2019-06-30 2019-06-30 37 1 261 262