This issue of BHR features articles that advance several of the journal’s core themes, including globalization and the role of governments in shaping economic development. Asli Colpan, professor of corporate strategy at Kyoto University, and Behlül Üsdiken, of Özyeğin University and Sabanci University, draw on a new database of one hundred large Turkish firms between 1970 and 2010 to show how market liberalization reshaped ownership structures, favoring the rise of family business groups and foreign-owned enterprises. Ada Nissen, a historian at the University of Oslo, examines Norwegian oil companies’ early twenty-first century turn toward offshore wind power. Historians R. Alexander Ferguson and Nathanael Mickelson, University of Georgia, investigate the populist origins of the Federal Reserve system. Economic historian Alexander J. Field of Santa Clara University contributes an article on the US “rubber famine” during World War II, illustrating the vulnerabilities that accompany national dependence on strategic natural resources. Finally, Per Hansen of Copenhagen Business School analyzes how popular explanations of the Great Depression evolved into entrenched narratives that diverged from their original meanings and carried significant policy consequences.
The issue also includes three review essays. Frank Cespedes evaluates Benjamin Waterhouse’s One Day I’ll Work for Myself: The Dream and Delusion That Conquered America. Judge Glock reviews Sean Vanatta’s Plastic Capitalism: Banks, Credit Cards, and the End of Financial Control. In addition, Eric Rauchway assesses George Selgin’s False Dawn: The New Deal and the Promise of Recovery, 1933–1947.