Big Business

An against-the-grain polemic on American capitalism from New York Times bestselling author Tyler Cowen. We love to hate the 800-pound gorilla. Walmart and Amazon destroy communities and small businesses. Facebook turns us into addicts while putting our personal data at risk. From skeptical politicians like Bernie Sanders who, at a 2016 presidential campaign rally said, “If a bank is too big to fail, it is too big to exist,” to millennials, only 42 percent of whom support capitalism, belief in big business is at an all-time low. But are big companies inherently evil? If business is so bad, why does it remain so integral to the basic functioning of America? Economist and bestselling author Tyler Cowen says our biggest problem is that we don’t love business enough. In Big Business, Cowen puts forth an impassioned defense of corporations and their essential role in a balanced, productive, and progressive society. He dismantles common misconceptions and untangles conflicting intuitions. According to a 2016 Gallup survey, only 12 percent of Americans trust big business “quite a lot,” and only 6 percent trust it “a great deal.” Yet Americans as a group are remarkably willing to trust businesses, whether in the form of buying a new phone on the day of its release or simply showing up to work in the expectation they will be paid. Cowen illuminates the crucial role businesses play in spurring innovation, rewarding talent and hard work, and creating the bounty on which we’ve all come to depend.

For big business in Germany and around the world, Hitler and his National Socialist party were good news. Business was bad in the 1930s, and for multinational corporations Germany was a bright spot in a world suffering from the Great Depression. As Jacques R. Pauwels explains in this book, corporations were delighted with the profits that came from re-arming Germany, and then supplying both sides of the Second World War. Recent historical research in Germany has laid bare the links between Hitler's regime and big German firms. Scholars have now also documented the role of American firms — General Motors, IBM, Standard Oil, Ford, and many others — whose German subsidiaries eagerly sold equipment, weapons, and fuel needed for the German war machine. A key roadblock to America's late entry into the Second World War was behind-the-scenes pressure from US corporations seeking to protect their profitable business selling to both sides. Basing his work on the recent findings of scholars in many European countries and the US, Pauwels explains how Hitler gained and held the support of powerful business interests who found the well-liked one-party fascist government, ready and willing to protect the property and profits of big business. He documents the role of the many multinationals in business today who supported Hitler and gained from the Nazi government's horrendous measures.

Written in nontechnical terms, Big Business and the Wealth of Nations explains how the dynamics of big business have influenced national and international economies in the twentieth century. A path-breaking study, it provides the first systematic treatment of big business in advanced, emerging, and centrally planned economies from the late nineteenth century, when big businesses first appeared in American and West European manufacturing, to the present. These essays, written by internationally known historians and economists, help one to understand the essential role and functions of big businesses, past and present.

Throughout the Twentieth Century, big business has been a basic institution. Large corporations have provided a fundamental contribution to the wealth of nations and, at the same time, have had a remarkable impact on the political and social systems within which they have operated. It is difficult to understand the development of the most advanced economies if we do not consider the specific evolution of big business in every national case. On the other hand, it is not possible to explain the shape and behavior of big business without considering its development as part of the history of the country in which they operate. The largest US, German, British and French firms were key actors in favoring their nations' development and, even at the end of the Twentieth Century, made a very important contribution to their growth. In many countries, a stable core of large corporations developed only relatively lately, or did not develop at all, and under these circumstances, big business was not able to significantly participate in the economic growth of such countries. Scholars who dealt with the economic history of Italy and Spain are generally unanimous in tagging these nations as industrial late-comers, ineffective in promoting big autochthonous private and State-owned firms, dominated by family companies, and characterized by a strong competitive advantage on the part of small and medium-sized enterprises. At the same time, Spanish and Italian business and economic historians have tended to say little about the role and features of big business. This book thus fills a significant gap in the work on the development of Southern European capitalism and its large corporations by analyzing the Italian and Spanish cases and comparing them with each other and with what has occurred in the United States and in the largest European nations. Examining both the macro dynamics (national but also supra national) and the micro level, utilizing samples of big corporations and going deeply into some company cases, this volume identifies some important protagonists of the Italian and Spanish economies (such as the State, families and foreign investors) and investigates a wider panorama which includes the political, economic and social relationships of the corporations, providing insights into the form of capitalism that exists in these countries.

For big business in Germany and around the world, Hitler and his National Socialist party were good news. Business was bad in the 1930s, and for multinational corporations Germany was a bright spot in a world suffering from the Great Depression. As Jacques R. Pauwels explains in this book, corporations were delighted with the profits that came from re-arming Germany, and then supplying both sides of the Second World War. Recent historical research in Germany has laid bare the links between Hitler's regime and big German firms. Scholars have now also documented the role of American firms — General Motors, IBM, Standard Oil, Ford, and many others — whose German subsidiaries eagerly sold equipment, weapons, and fuel needed for the German war machine. A key roadblock to America's late entry into the Second World War was behind-the-scenes pressure from US corporations seeking to protect their profitable business selling to both sides. Basing his work on the recent findings of scholars in many European countries and the US, Pauwels explains how Hitler gained and held the support of powerful business interests who found the well-liked oneparty fascist government, ready and willing to protect the property and profits of big business. He documents the role of the many multinationals in business today who supported Hitler and gained from the Nazi government's horrendous measures.

The fundamental and explosive changes in the U.S. economy and its business system from 1860 to 1920 continue to fascinate and engage historians, economists, and sociologists. While many disagreements persist about the motivations of the actors, most scholars roughly agree on the central shifts in technologies and markets that called forth big business. Recent scholarship, however, has revealed important new insights into the changing cultural values and sensibilities of Americans who lived during the time, on women in business, on the ties between the emerging corporations and other American institutions, on the nature of competition among giant firms, and on the dawn of modern advertising and consumerism. This vast accumulation of notable new work on the social concept and consequences of economic change in that era has prompted Glenn Porter to recast numerous portions of The Rise of Big Business, one of Harlan Davidson’s most successful titles ever, in this, the third edition. Those familiar with this classic text will appreciate the expanded coverage of topics beyond the fray of regulation and the political dimensions of the emergence of concentrated enterprise, namely the influence of the rise of big business on social history. An entirely new bank of photographs and illustrations rounds out the latest edition of our enduringly popular title, one perfect for supplementary reading in a variety of courses including the U.S. history survey, the history of American business, and specialized courses in social history and the Gilded Age.

Debates various topics involving big business, including "Are oil companies too powerful?," "Should pharmaceutical patents still apply in developing countries?", and "Should big business be allowed into schools?"

Debunks the rosy success story about South Korean economic development by analyzing how the state and businesses formed an alliance, while excluding labor, in order to attain economic development, and how these three entities were transformed in the process. Examines development in the country between 1960 and 1990, looking at the interaction between social, economic, and political changes, and describes collaboration and conflict between the state and business. Annotation copyrighted by Book News, Inc., Portland, OR