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Using COUNTER‐compliant statistics, the purpose of this study is to conduct an in‐depth analysis of usage of online journals in a group of major UK universities.

The paper describes in detail developments, as well as other progress made on COUNTER since the 2003 Northumbria conference. It also addresses the practical challenges faced by vendors and librarians in implementing COUNTER, and concludes with future plans for the project.

The study team has successfully collected and validated a considerable set of journal usage, subscription and cost data and has assisted in the testing and validation of the “successful full‐text article request” as a possible unit of measurement of “usage” that can be applied consistently and reliably across all publishers.

The paper shows how usage relates to costs, institution profile and subject spread and develops a set of measures that are likely to be used more widely as indicators of the value of online journals.

Purpose. To provide an update on COUNTER, the international organisation that is developing and maintaining a Code of Practice that has set standards for the recording and reporting of vendor‐generated usage statistics for online products. Design/methodology/approach. COUNTER has built on a number of existing industry initiatives. Release 1 of the COUNTER Code of Practice, focusing on journals and databases, was published in January 2003. Based on customer feedback, this Code of Practice is being refined and extended. Work has also begun on a Code of Practice covering e‐books and e‐reference works. Findings. Since it was published in January 2003, the COUNTER Code of Practice has been widely adopted by vendors. It is estimated that over 50 per cent of the annual output of articles covered by the Science Citation Index are in COUNTER‐compliant journals. On the whole, both librarians and vendors have indicated that the role of COUNTER should be to provide a core set of basic, reliable usage reports. Research limitations/implications. COUNTER is in the very early stages of implementation. The usage reports are not being audited in 2004, but from 2005 they will be, which will further increase confidence in their reliability. Practical implications. Reliable usage statistics will allow librarians to better assess the value of online publications, and will allow publishers to evaluate the effectiveness of different delivery channels. Originality/value. COUNTER is the first initiative to set practical international standards for the recording and reporting of vendor‐generated usage statistics.

William Baumol is best-known as an academic. He was a prodigious researcher and publisher of texts on microeconomic theory, and a highly regarded educator with roles as head of the Department of Economics at Princeton University, director of the C.V. Starr Center for Applied Economics and director of the Berkley Center for Entrepreneurship and Innovation at New York University. Less well-known were his engagements as a corporate consultant, notably for the telecommunications monopoly AT&T. Baumol’s work as an advisor, expert witness and theorist for AT&T spanned three decades from 1966. His relationship with AT&T arguably forms the context within which we can better understand his work on contestability theory, which he developed with a team of economists working for AT&T’s Bell Telephone Laboratories in the 1970s. Contestability theory was later deployed as a policy tool to justify industry deregulation and even advocate for monopolies and oligopolies on the ground that they were optimally efficient industry structures if potential competitors faced low barriers of entry. Baumol’s intellectual contribution to contestability theory was arguably influenced by the Chicago school and by AT&T’s drive toward the technological integration of telecommunications. Contestability was a rebellion against economic orthodoxies concerning competition and government regulation, and the status quo within AT&T which opposed market competition on the ground that it threatened the technological integration of the Bell system. The outcome was a revolution in industrial organization that would pave the way for the emergence of platform business models incorporating multi-sided and two-sided markets as exemplified by Amazon and Uber.

The Minister of Labour, Mr J. Godber, announced in the Commons the names of the Chairmen of the first four Industrial Training Boards. Mr Norman Longley is to be the Chairman of the Construction Training Board. Mr Arnold I.indley, Chairman of the General Electric Company Ltd, is to be Chairman of the Engineering Training Board. Mr Peter M. Shepherd, Chairman of Shepherd Holdings Ltd, is to be Chairman of the Wool Textile Training Board, and Mr Charles T. H. Williams, Chairman of the Park Gate Iron and Steel Company Ltd, is to be Chairman of the Iron and Steel Training Board. Mr Godber said discussions were taking place with those concerned about the scope and membership of those four boards. He hoped they would be set up in the early part of the summer.

Unlike other populations, entrepreneurs may be unable to fully escape from job-related stress due to their financial and/or psychological connection to their ventures. The authors argue that stress is a universal, intangible variable that profoundly influences the entrepreneurial process. In the present review, the authors critically synthesize past literature to evaluate the substantive body of research on stress in entrepreneurship and assess the impact of stress on individuals’ well-being. The authors find that entrepreneurial stress stems from role conflict or overload, issues related to business operations, and concerns from life outside the venture. Further, stress may result in changes to personal satisfaction and psychological well-being, contingent upon an individual’s stress tolerance, coping strategies, or recovery practices. The entrepreneurial process, from creation to exit, is comprised of several transition periods, all of which are uniquely stressful. The authors explore the implications of our findings by discussing stressors that may manifest during each stage of the entrepreneurial process. Therefore, the authors respond to calls for more dynamic investigation of entrepreneurial stress while also highlighting the need for more research into stressors associated with specific entrepreneurial activities.

In the first paper in this short series (Sen et al, 2009), we talked about the importance of having ‘recovery heroes’. There is a grave danger to the whole recovery movement if it is colonised by mental health professionals and not owned by service users themselves (O'Hagan, 2008). This danger can be seen in attempts to conduct randomised controlled trials of ‘recovery interventions’, designed by professionals, who want to bring recovery practice into evidence‐based medicine. If it means anything, recovery is fundamentally an individual process. The recent Sainsbury Centre for Mental Health report (Shepherd et al, 2008), quotes Bill Anthony:‘Recovery … is a deeply personal, unique process of changing one's attitudes … involves the development of new meaning and purpose in one's life …’ (Anthony, 1993)Patricia Deegan also emphasises the person‐centred focus of recovery, ‘… recovery is an attitude, a stance, a way of approaching the day's challenges …’ (Deegan, 1996, p96). The most important evidence, to our minds, is that of individuals who are on the journey of recovery. Recovery heroes are courageous individuals who have made considerable progress along the path that few staff ever have to travel. We would like to introduce you to another one: Peter Chadwick.

Why is the quality of innovation-driven entrepreneurship seemingly declining? We argue the growing Entrepreneurship Industry and the way it has transformed entrepreneurship as an activity are important, under-appreciated explanations. By leveraging the Ideology of Entrepreneurialism to mass-produce and mass-market products, the Entrepreneurship Industry has made possible what we term Veblenian Entrepreneurship. This is entrepreneurship pursued primarily as a form of conspicuous consumption, and it is fundamentally different from the innovation-driven entrepreneurship that it emulates and superficially resembles. Aside from lowering average entrepreneurial quality, Veblenian Entrepreneurship has a range of (short-run) positive and (medium- and long-run) negative effects for both individuals and society at large. We argue that the rise of the Veblenian Entrepreneur might contribute to creating an increasingly Untrepreneurial Economy. An Untrepreneurial Economy appears innovation-driven and dynamic but is actually rife with inefficiencies and unable to generate economically meaningful growth through innovation.

We explore the acceptance of new contingent work relationships in the United States to reveal an emergent entrepreneurial ideology. Our argument is that these new work relationships represent a new social order not situated in the conglomerates and labor unions of the past, but on a confluence of neo-liberalism and individual action situated in the discourse of entrepreneurialism, employability, and free agency. This new employment relationship, which arose during the economic and social disruptions in the 1970s, defines who belongs inside an organization (and can take part in its benefits) and who must properly remain outside to fend for themselves. More generally, the fusing of entrepreneurship with neo-liberalism has altered not only how we work and where we work but also what we believe is appropriate work and what rewards should accompany it.

The root of urban poverty and inequality often results from limited economic opportunity. Yet, often this perception of lack of opportunity is centered on the early stages of new venture formation, with only limited attention to venture growth and expansion. In this study, we explore the intersection of social venturing and community economic redevelopment to address this gap in the literature. We examine how venturing under conditions of limited economic opportunities occurs not just at the formation stages but also throughout the venturing life cycle. Specifically, we examine how ventures formed in distressed, urban neighborhoods face unique challenges when scaling up their operations. These challenges relate to securing and leveraging four types of capital: financial, physical, human, and social. We employ a case study methodology to examine these scaling challenges and the strategies the organization employed to overcome location disadvantages.

Exports are both an important component of overall economic performance and an indicator of broader trends in economic growth for the early American economy. In this article we describe a new set of estimates of the volume of overseas exports originating in the colonies and states of the Middle Atlantic region from 1720 to 1800. Measured in constant prices, export volumes grew rapidly in this period, but were unable to outpace the rapid growth of population and the labor force. Despite significant short-run fluctuations, per capita export values displayed no trend. At the same time, regional terms of trade improved considerably, increasing the foreign exchange earnings produced for any real export quantity.