Professor McCraw surveys the state of the art of understanding regulatory commissions in American history, evaluating the relevant literature in history, economics, political science, and law.

The appearance of large, integrated industrial firms at the turn of the century encouraged the introduction of innovative accounting practices. Professor Johnson examines the centralized management accounting system that made it possible for one such firm, the DuPont Powder Co., to plan its long-term development and to avoid the internal inefficiency that sometimes accompanies enormous size.

Professor Buxton examines the importance during the 1930s of the “new” industries in Britain (vehicle manufacturing, electrical engineering, rayon, non-ferrous metals, and paper, printing, and publishing) and finds that their role has been exaggerated by earlier interpretations.

Applying a formulation devised by Burton G. Malkiel to stock prices prior to the market crash of 1929, this study finds that descriptions of the period as a “speculative orgy” are misleading.