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That Melchior Palyi taught a course at the University of Chicago on the European banking system is unsurprising, given his background provided in the biographical sketch presented above.

Business cycle theory is normally described as having evolved out of a previous tradition of writers focusing exclusively on crises. In this account, the turning point is seen as residing in Clément Juglar's contribution on commercial crises and their periodicity. It is well known that the champion of this view is Schumpeter, who propagated it on several occasions. The same author, however, pointed to a number of other writers who, before and at the same time as Juglar, stressed one or another of the aspects for which Juglar is credited primacy, including the recognition of periodicity and the identification of endogenous elements enabling the recognition of crises as a self-generating phenomenon. There is indeed a vast literature, both primary and secondary, relating to the debates on crises and fluctuations around the middle of the nineteenth century, from which it is apparent that Juglar's book Des Crises Commerciales et de leur Retour Périodique en France, en Angleterre et aux États-Unis (originally published in 1862 and very much revised and enlarged in 1889) did not come out of the blue but was one of the products of an intellectual climate inducing the thinking of crises not as unrelated events but as part of a more complex phenomenon consisting of recurring crises related to the development of the commercial world – an interpretation corroborated by the almost regular occurrence of crises at about 10-year intervals.

As a result of the end of the cold war, the US Government’s defence spending has decreased significantly since 1989. Consequently, many aerospace companies in the defence industry have begun the transition to commercial products. Reviews the commercial success strategies of Lockheed Martin, Hughes Electronics and Rockwell. Commercial success strategies discussed include: mergers, derived products, partnerships, consolidation, fresh blood in management, subsidiaries and acquisitions. Examines the negative side‐effects ‐ which include downsizing and less investment in technology research ‐ of the commercial transition.

Conventional analyses and policy prescriptions for postwar societies in West Africa typically conflate wartime networks with continued violence and criminal economic activities. However, while posing real problems, these networks also are potential vehicles for economic transformation. As evidence from Liberia and Sierra Leone shows, some of these networks show signs of developing commercial activities outside old political patronage networks based in the national capital. They provide avenues for ex-combatants to gain direct access to economic opportunities in defiance of the control previously exercised by local political insiders. Alongside this unexpected development lies the risk that foreign-sponsored reform programs unintentionally strengthen centrally organized insider networks that are, to many wartime combatants, avenues of privilege and exploitation. The analysis presented here provides a contrast to the view that the survival of wartime associations of combatants is purely negative in its effects on society and the economy. It suggests that appropriate reform strategies should take into account the potential for some of these associations of ex-combatants to develop as more purely business operations and should seek ways to integrate them into the formal economy.

The tension between the United States and China has not ended, despite the lengthy negotiations carried out in 2019 to appease differences and decrease protectionism over the technology industry, since the trade war was producing devastating consequences for both powers and international trade. The resurgence of tension is due to two main factors, such as mutual accusations about who is to blame for the origin of COVID-19 and the use of the new 5G mobile technology by Chinese companies like ZTE and Huawei. We developed an in-depth analysis of the consequences on international prices of the technology industry and international trade due to the reappearance of the trade conflict between China and the United States. This analysis will be carried out through the application of economic theories. There is greater distrust in the technology sector, and this produces a variation in the price of the technology industry. Likewise, according to Marshall's law of demand and supply, this effect can be explained more accurately; since there was a lower demand for technological products, the digital industry will have to lower its prices to generate income.

Political risk is a complex phenomenon. This complexity has incentivized scholars to take a piecemeal approach to understanding it. Nearly all scholarship has targeted a single type of political risk (expropriation) and, within this risk, a single type of firm (MNCs) and a single type of strategic mechanism through which that risk may be mitigated (entry mode). Yet “political risk” is actually a collection of multiple distinct risks that affect the full spectrum of foreign firms, and these firms vary widely in their capabilities for resisting and evading these risks. We offer a unified theoretical model that can simultaneously analyze: the three main types of political risk (war, expropriation, and transfer restrictions); the universe of private foreign investors (direct investors, portfolio equity investors, portfolio debt investors, and commercial banks); heterogeneity in government constraints; and the three most relevant strategic capabilities (information, exit, and resistance). We leverage the variance among foreign investors to identify effective firm strategies to manage political risk. By employing a simultaneous and unified model of political risk, we also find counterintuitive insights on the way governments trade off between risks and how investors use other investors as risk shields.

During this month the average librarian is given furiously to think over the estimates, and in this year, perhaps more than any other, will that adverb be applicable. The matter is so important that we do not apologise for dealing with it once more. In March in nearly every town there will be a determined effort by men who call themselves “economists” to reduce the appropriation for public libraries. The war is the most handsome excuse that the opponents of public culture have ever had for their attacks upon the library movement. It is obvious that these attacks will take the direction of an endeavour to reduce the penny rate, where this has not been done already. In the year that has passed retrenchment has been the watchword of all municipal work, and many librarians have either ceased to buy new books or have bought only those of vital importance. This has meant that a certain amount of money usually devoted to books has accumulated. Seeing that legally money which has been raised for library purposes cannot be expended in any other direction, the only way in which the “economists” can work is to propose a reduction of next year's rate by an amount corresponding to the balance. It is an extraordinary thing that after decades of demonstration the average local public man cannot or will not see that money taken from the funds of a public library cannot be restored to it later. The limitation of the penny rate is nearly always forgotten or ignored, and the common phrase of such men: “You must economise now and we will give you more money after the war,” has been heard by most librarians. An endeavour should be made to drive home the fact that retrenchment in books, or in other matters in connexion with libraries, now means so much actual irreparable loss to the libraries. We have dealt several times in these pages with the vexed question of balances. Practice differs so much in different localities that it seems impossible to get any universal ruling in connexion with this matter. Many libraries have been able to invest their balances in some form of war loan ; in others the librarian has been told emphatically that such investment is illegal. We can speak of towns within five miles of each other in one of which money has been invested, and in the other investment is banned in this way. Unfortunately librarians have been rather silent upon this point, and it is difficult to obtain any reliable information as to how many towns have investments. It would strengthen the hands of many librarians if they knew that in so many other municipalities the library funds were so invested.

Television became a possible medium for advertising in the late 1930s but its emergence as a major medium dates from 1947. Arguments about the likely effectiveness of television as a source of entertainment attracting large numbers of viewers were coloured by fears of responses to ill‐devised uses by advertisers of the presentation of products or services. The profitability of television selling was forshadowed in 1947.

This chapter sets out to examine the role of masculinity in the development of a gendered organizational culture over time. The development of images of masculinity within one company—British Airways—is examined through content analysis of company newsletters, advertising copy, annual reports, internal memoranda, and written rules and regulations. Exploring the notion of “multiple masculinities,” the chapter traces the prominent forms of masculinity that emerged in British Airways and assesses their impact on the ways that organizational practices were developed, maintained, and understood. Four key corporate images of masculinity are examined—the pilot, the steward, the engineer, and the “native boy”—and it is argued that those images contributed to the exclusion of women and people of color from those occupations by laying down cultural rules about the ideal typical characteristics of the job holder. The chapter concludes by raising questions about the value of a multiple masculinities focus in explaining changing and contradictory practices of discrimination; the primacy of extra-organizational over organizational practices; and the relationship between multiple masculinities and hegemonic masculinity. Further research is suggested into the extent to which hegemonic masculinity is undermined, over time, by changing and contradictory forms of masculinity within definite sites of gender construction.