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This chapter investigates the nature of the transformation of macroeconomics by focusing on the impact of the Great Depression on economic doctrines. There is no doubt that the Great Depression exerted an enormous influence on economic thought, but the exact nature of its impact should be examined more carefully. In this chapter, I examine the transformation from a perspective which emphasizes the interaction between economic ideas and economic events, and the interaction between theory and policy rather than the development of economic theory. More specifically, I examine the evolution of what became known as macroeconomics after the Depression in terms of an ongoing debate among the “stabilizers” and their critics. I further suggest using four perspectives, or schools of thought, as measures to locate the evolution and transformation; the gold standard mentality, liquidationism, the Treasury view, and the real-bills doctrine. By highlighting these four economic ideas, I argue that what happened during the Great Depression was the retreat of the gold standard mentality, the complete demise of liquidationism and the Treasury view, and the strange survival of the real-bills doctrine. Each of those transformations happened not in response to internal debates in the discipline, but in response to government policies and real-world events.

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Interviews with three business leaders at the Leaders in London 2007 conference: Andrew Zolli, Benjamin Zander and Nick Wheeler

JBS interviewed the following three business leaders at the Leaders in London 2007 conference on a variety of topics including new technologies, music and entrepreneurship.

Three business leaders express their thoughts on a variety of topics affecting the modern business world.

These are exclusive interviews that range over a wide variety of topics, from the impact of the new technology to using music to change behaviour in the workplace.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.

Researcher Highlight: Dr. Carter G. Woodson (1875–1950)

The purpose of the paper is to describe and evaluate the changes in the content of the marketing theory course at Wharton 50 years ago, taught by Reavis Cox, as a result of the insertion of Wroe Alderson's book Marketing Behaviour and Executive Action.

The paper presents a personal experience of taking the course before the insertion of Alderson's book and a review of the revised course outline.

The course content moved away from a broader philosophically based marketing systems course linked to ideas from other disciplines, to one focused on marketing management.

The period in question is an important turning point in the way marketing theory was taught and developed that influenced future development of the discipline in ways that narrowed its focus and limited its contribution.