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Surveys, from an American perspective, the existing literature on economic explanations of the behaviour of universities and scholars. The modern literature is put in historical perspective introduced by a brief discussion of the positions of two of the earliest and most distinguished contributors to the literature: Adam Smith and Max Weber. Discusses the human capital and implicit contracts literatures of the behaviour of scholars, the latter elaborated in terms of the issue of tenure. The most common theoretical economic analysis of the university is the view that it is best thought of as a non‐profit organization. Discusses variants of this view, with special attention to the literature on rent‐seeking in academe. Goes on to the empirical literature on the economics of academe in the areas of academic institutions, academic earnings functions, the earnings and status of minority scholars and academic production functions. Briefly considers the relevance of the current literature to the Althoff system, suggesting that Althoff′s able, trusted advisers, and his system of institutes, may have allowed him to avoid several inefficiences that have been identified by economists as present in other academic institutions. Although the centralization of decision making in the hands of one decision maker may be efficient if the decision maker is exceptionally able, more commonly the most efficient system will be a decentralized system that allows for greater diversity and competition. Concludes with a discussion of how hypotheses on the efficiency (and fairness) of various aspects of the Althoff system could, in principle, be tested.

Since the 1960s, experts have predicted that we are on the verge of curing cancer. The purpose of this paper is to explore the obstacles to progress, and to propose policies that will lead more quickly to more success.

To speed future cures, we need to look at the traits, and methods of those innovative medical entrepreneurs who achieved breakthroughs in the past, and learn what institutions and policies enabled, or blocked, their progress.

Breakthrough innovators tend to be less-credentialed outsiders who “see what others do not see,” often by nimble and persistent pursuit of serendipitous discoveries or slow hunches. For example, Freireich and DeVita were less-credentialed outsiders. Freireich cured childhood leukemia and DeVita cured Hodgkin’s lymphoma, by pursuing nimble trial-and-error experimentation in their anti-cancer chemotherapy cocktails. Min Chiu Li pursued his slow hunch that his patients would benefit from longer chemotherapy than the mandated National Cancer Institute protocol allowed. He was fired, but his patients were cured. Today, FDA-mandated regulatory protocols, often defended as applications of the precautionary principle, greatly restrict innovative medical entrepreneurs, thereby delaying cancer cures and costing lives.

The paper proposes a new approach to medical innovation, allowing cancer researchers to engage in trial-and-error experiments that follow up on serendipitous discoveries and plausible hunches. The result will be more cures and longer lives.

It has often been said that a great part of the strength of Aslib lies in the fact that it brings together those whose experience has been gained in many widely differing fields but who have a common interest in the means by which information may be collected and disseminated to the greatest advantage. Lists of its members have, therefore, a more than ordinary value since they present, in miniature, a cross‐section of institutions and individuals who share this special interest.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

Not since the Great Depression of the 1930s have the activities of individual corporations come under as much scrutiny as they have over the past decade. With daily headlines about the savings and loan crisis, insider trading, layoffs and plant closures, green marketing, ingredient labeling practices, and influence‐peddling political contributions, the new watchwords in the business world are ethics, accountability, and social responsibility.

A series of online searches of the Harvard University Library System – which includes the Baker Library, Houghton Library and the Radcliffe Institute’s Arthur and Elizabeth Schlesinger Library – on the History of Women in America revealed nearly 1,000 archive and manuscript holdings on advertising and related topics. This paper aims to investigate the extent of these holdings, to assess their value to advertising and marketing historians and to explore their potential for encouraging future research on under-investigated topics and questions.

Described are the extensive and valuable special collections and other holdings related to advertising, business and marketing of the Harvard Library System. Also described are the availability of the holdings and recommendations for accessing and studying the collections and artifacts.

The research reported here supports an overall conclusion that the Harvard Library System holds an important place among the world’s repositories of valuable historical advertisements and marketing ephemera. The research also supports four specific conclusions regarding the historical value of Harvard’s collections and archives. First, some of the collections offer access to artifacts and items from an under-investigated period – the first half of the 19th century. Second, many of the collections are international in scope. Third, the collections represent a wide array of 19th century non-periodical advertisements and ephemera, such as trade cards, posters and theatrical playbills. Fourth, and most important, the collections offer significant potential for addressing, among other under-investigated topics, the important role of women in the development of modern advertising theory and professional practices.

A prior search for the world’s largest and most historically significant archives and collections of advertisements and marketing ephemera (promotional objects or media executions created for a one-time, limited purpose) revealed a handful of library and museum collections of exceptional size or topical importance meriting further investigation. This paper adds to an extensive line of research published in the marketing and advertising historical literature exploring and describing the breadth, depth and historical value of the world’s important collections of historical advertisements and ephemera.

This paper, for the first time, classifies narrative information into complementary and supplementary. For the purpose of the paper, complementary narrative information is defined as that information which refers to specific numbers presented in the statutory accounts (profit and loss and balance sheet). Non‐specific narrative information is classified as supplementary. Having made the distinction and provided reasons for such a distinction the study investigates the extent of complementary narrative commentaries on numbers from the statutory accounts. The study also investigates which company‐specific characteristics are associated with the extent of complementary narrative commentaries. An index consisting of 46 items which must be reported in the statutory accounts was used to measure the extent of complementary narrative commentaries in the annual reports of 170 listed UK companies. The findings suggest that, on average, the companies comment on 39.9% of the numbers appearing in their statutory accounts. Using the Ordinary Least Squares (OLS) regression model, the results indicate that company size, gearing, profitability, liquidity ratio, the presence of exceptional items, and substantial institutional investment are significantly associated with the extent of complementary narrative commentaries. However, auditor type, directors’ share ownership, and the proportion of non‐executive directors are not significantly associated with the extent of complementary narrative commentaries. The research has important implications for accounting regulators, users of annual reports and future research into the usefulness narrative information provided in annual reports.

The purpose of this paper is to review Advertising in a Free Society – a defence of the advertising industry – by Ralph Harris and Arthur Seldon, and to evaluate its status as a justifiable forgotten classic of the marketing literature.

Advertising in a Free Society is placed in historical context (the Cold War), summarised and reviewed.

During the 1950s, as the UK experienced a period of affluence and growing consumerism, the advertising industry was again subject to the criticisms that had been levelled at it by influential scholars in the late nineteenth and early twentieth centuries. Against this context, Advertising in a Free Society deserves to be remembered as one of the earliest defences of advertising and remains highly relevant. Harris and Seldon were leading figures in the Institute of Economic Affairs (IEA), joining shortly after its inception, which became an influential group both in the UK and abroad, influencing policy on free markets.

Although Advertising in a Free Society attracted few citations (going out of print between its publication in 1959 and 2014 when it was republished by the IEA), and largely forgotten by marketing scholars, it provides a significant source for marketing historians interested in advertising criticism, the growth of the British advertising industry and the role of advertising in democratic societies. A reanalysis of the text situated in its historical context – the height of the Cold War – reveals that the text can be viewed as an artefact of the conflict, deploying the rhetoric of the period in defending the advertising industry and highlighting the positive role that advertising could make in free societies.