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1 13 th Annual Conference June 12-14, 2012 The Association for Public Economic Theory Conference in Celebration of the 50th Anniversary of the Institu...
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40 th ANNUAL CONFERENCE &
e c o n o m i c h i s t o r y m a y 28-30, 2015
b u s i n e s s s o c i e t y
la crosse, wi usa
c o n f e r e n c e
f a c i l i t i e s
The sessions, keynote address, board meeting, member meeting and breaks will take place on the first floor of Centennial Hall at the University of Wisconsin-La Crosse. Please see the program for room assignments. Breakfast and lunch will be served in Centennial Hall 1300. The banquet on Friday evening will be aboard the La Crosse Queen riverboat. Further information regarding conference activities, as well as a variety of diversions in the community, will be available at the registration desk, located near the main entry to Centennial Hall. Its hours of operation are in the conference schedule. The following rooms will be used during the conference: §§Centennial Hall 1300 (“Hall of Nations”) §§Centennial Hall 1400
§§Centennial Hall 1401 §§Centennial Hall 1403
§§Centennial Hall 1404 Hall of Nations
CONFERENCE SCHEDULE t h u r s d a y
Noon – 4:30 p.m.
10 a.m. – 11:45 a.m.
11:45 a.m. – 1 p.m.
1 p.m. – 2:15 p.m.
2:15 p.m. – 2:30 p.m.
2:30 p.m. – 4 p.m.
4 p.m. – 4:15 p.m.
4:15 p.m. – 5:30 p.m.
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Registration Board Meeting Lunch Session 1 (Roundtable) Break Session 2 (Panels A, B, C) Break Business Meeting
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Departure for La Crosse Loggers Game
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8 a.m. – 3:30 p.m.
7:30 a.m. – 8:30 a.m.
8:30 a.m. – 10 a.m.
Session 3 (Panels A, B, C)
10 a.m. – 10:15 a.m.
10:15 a.m. – 11:45 a.m.
11:45 a.m. – 1 p.m.
1 p.m. – 2 p.m.
2 p.m. – 2:15 p.m.
2:15 p.m. – 3:15 p.m.
3:15 p.m. – 3:30 p.m.
3:30 p.m. – 3:45 p.m.
3:45 p.m. – 4:45 p.m.
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8 a.m. – 11 a.m.
7:30 a.m. – 8:30 a.m.
Session 4 (Panels A, B, C) Lunch Session 5 (Panels A, B, C) Break Session 6 (Panels A, B) Break
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8:30 a.m. – 10 a.m.
Session 7 (Panels A, B)
10 a.m. – 10:15 a.m.
10:15 a.m. – 11:15 a.m.
Session 8 (Panels A, B)
11:15 a.m. – 11:30 a.m.
11:30 a.m. – 12:30 p.m.
Session 9 (Panels A, B)
CONFERENCE PROGRAM t h u r s d a y
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SESSION 1 • 1 P.M. – 2:15 P.M. ROUNDTABLE Great Expectations? Curricular and Accreditation Standards in Teaching Economics and History LOCATION Centennial Hall, Room 1403 Chair Stephanie Crofton (High Point University) Discussants Jari Eloranta (Appalachian State University) Fred Gates (Southwestern Oklahoma State University) Dan Giedeman (Grand Valley State University)
SESSION 2 • 2:30 P.M. – 4 P.M. PANEL 2A By Land, Sea and Air: Economic Development and Issues in Transport LOCATION Centennial Hall, Room 1401
Chair Erik Benson (Cornerstone University)
First Paper Gravity Models, Information Flows, and Inefficiency of Early Railroad Networks Author: Andrew Odlyzko (University of Minnesota) Second Paper The Historical Positioning of the Ports of Antwerp and Rotterdam vis-à-vis Each Other: Lessons from the Past (1980-2012) Authors: Eline Poelmans and Thomas Cornelis (KU Leuven) Third Paper The Blue Sky of Red Figures: Historical Trajectories and Strategic Activities in the European Airline Industry Author: Hans Sjögren (Linköping University)
PANEL 2B Perquisites, Prestige and the Public: Expectations in (and of) Business LOCATION Centennial Hall, Room 1403
Chair Mark Billings (University of Exeter) First Paper CEO Perquisites in Canada, 1971-2008
Authors: Patrice Gelinas (York University) and Lisa Baillargeon (University du Quebec at Montreal) Second Paper A Prestigious Business? The Management Education movement in England, 1945-1970 Author: Mitchell J. Larson (University of Central Lancashire)
Third Paper From the “Public Be Damned” to the “Public Be Pleased”: William G. McAdoo and the Politics of Emotional Labor Author: Daniel Robert (University of California Berkeley)
PANEL 2C With Some Certainty: Efforts at Creating Government Financial Stability LOCATION Centennial Hall, Room 1404 Chair Der-Yuan Yang (National Kaohsiung First University of Science and Technology) First Paper Do Fiscal Constraints Prevent Default? Historical Evidence from U.S. Municipalities Author: John A. Dove (Troy University) Second Paper London Financial Market Before and After the Glorious Revolution: In the Case of the Stop of Exchequer 1672 Author: Ling-Fan Li (National Tsing-Hua University) Third Paper Analysis on the Relation Between Land Tax and Finance in Modern China Author: Tieqiang Li (Central China Normal University)
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SESSION 3 • 8:30 A.M. – 10 A.M. PANEL 3A Road Kill, Regulation and the Reserve: Developments in the American Banking System LOCATION Centennial Hall, Room 1401
Chair Dan Giedeman (Grand Valley State University)
First Paper Credit Union Capital, Shares, and Their Insurance: A Century of Deep and Ongoing Transformations in Definitions and Regulation Authors: Stephanie Crofton (High Point University), Luis Dopico (Macrometrix), James A. Wilcox (University of California Berkeley) Second Paper A Reexamination of the Road Kill Theory of Free Bank Failures: An Analysis of Decision-Making Prior to the Civil War Author: Andrew Economopoulos (Ursinus College)
Third Paper The Birth of the U.S. Federal Reserve
Author: Richard A. Naclerio (Sacred Heart University)
PANEL 3B Good Ideas? Examining Government Policies and Practices LOCATION Centennial Hall, Room 1403
Chair Ranjit Dighe (State University of New York at Oswego) First Paper How Roosevelt Sabotaged the National Industrial Recovery Act
Author: Bernard Beaudreau (Université Laval)
Second Paper A Hundred Year History of the Economy, Military, and Deficit Author: Robert W. Reuschlein (Real Economy Institute) Third Paper Have Stimulus Policies Historically Met the “Timely, Targeted, and Temporary” Principle? Authors: Jason Taylor (Central Michigan University) and Andrea Castillo (George Mason University)
PANEL 3C Community Building: Enterprise and Urban Development LOCATION Centennial Hall, Room 1404
Chair Wade Shilts (Luther College)
First Paper The Organization and Evolution of Firms in an Early Industrial District: The North Staffordshire Potteries, 1750-1850 Author: Joseph Lane (London School of Economics) Second Paper The History of the Wealthy Theatre: The Decline, the Fall, and the Rebirth of a Community-engaging Theatre Author: Erik Noren (Central Michigan University) Third Paper Municipalization of Private Waterworks and Deaths from Waterborne Diseases Authors: Nicola Tynan (Dickinson College), Werner Troesken, Brian Beach (University of Pittsburgh)
SESSION 4 • 10:15 A.M. – 11:45 A.M. PANEL 4A Tough Sell? U.S. Policy and International Commerce LOCATION Centennial Hall, Room 1401
Chair Luis Dopico (Macrometrix)
First Paper Swiss Chemicals and Watches: A Tough Competition on the U.S. Market (1947-1950) Author: Virginie Fracheboud (University of Lausanne) Second Paper Business Elites and U.S. Trade Policy, 1945-1967 Author: Sebastian Huempfer (Oxford University)
Third Paper A Lost Opportunity? The Evolution of U.S.-China Trade, 1865-1914
Author: Louis D. Johnston, Kathryn G. Gaydos (College of Saint Benedict/Saint John’s University)
PANEL 4B The Sun Never Sets: British Enterprise Abroad in the 19th and 20th Centuries LOCATION Centennial Hall, Room 1403
Chair Mitchell J. Larson (University of Central Lancashire)
First Paper State Versus Private Development Corporations in British Africa 1945-1960 Author: Billy Frank (University of Central Lancashire)
Second Paper The Matador Land and Cattle Company: A Financial History, 1883-1920 Authors: Randy McFerrin (New Mexico State University), Douglas Wills (University of Washington at Tacoma), Mary Jo Billiot (New Mexico State University) Third Paper The Co-operative Group and the British Empire: A Critical Business History Author: Simon Mollan (University of York)
PANEL 4C How to do Business? Enterprise and State Interests. LOCATION Centennial Hall, Room 1404
Chair Nicola Tynan (Dickinson College) First Paper Ferranti and the Pre-history of Privatization in Britain, 1979-1980
Authors: Mark Billings (University of Exeter), John Wilson (Newcastle University) Second Paper Taking the Road to the European Monetary Union: The Rise of Contending Conceptions Between the Bank of Italy and the Government Author: Daniele Caviglia (Università degli Studi Internazionali-UNINT)
Third Paper Dry Holes: Sinclair Oil’s Concession on Northern Sakhalin Island
Author: Jeanie Maxine Welch (University of North Carolina at Charlotte)
SESSION 5 • 1 P.M. – 2 P.M. PANEL 5A The Poorer Sorts: Assessing Quality of Life in 18th-Century North America LOCATION Centennial Hall, Room 1401
Chair Patrice Gelinas (York University)
First Paper Divergence within North America: Living Standards in Quebec under French Rule Author: Vincent Geloso (London School of Economics) Second Paper Feeding the ‘Lower Sort’: Military Occupation and Poor Relief in Colonial Port Cities Author: Jeremy Land (University of Tennessee)
First Paper The Early Development of an Innovation System for Cancer Chemotherapeutic Agents Author: Roberto Mazzoleni (Hofstra University)
Second Paper From Anonymous “Angels” to Celebrated Social Advocates: The Philanthropic Pursuits of Kroc, MacArthur, and Gates Author: Jo Ann Rose Oravec (University of Wisconsin at Whitewater)
PANEL 5C Convergence? Studies in Accounting Standards and Stock Performance LOCATION Centennial Hall, Room 1404
Chair Wesley Oliphant (Chapman University)
First Paper The Complex and Controversial History of International Accounting Standard Convergence Author: Michael Patrick Coyne (Fairfield University) Second Paper The Solar and Lunar Divide Author: Der-Yuan Yang (National Kaohsiung First University of Science and Technology)
Chair Jari Eloranta (Appalachian State University) First Paper Resource-Led Growth Past and Present
Author: Lars Christian Bruno (Norwegian Business School) Second Paper Examining Afghanistan’s Enemy Within: A Look at the Causes of Opium Cultivation in the Afghan Provinces Author: Wesley Oliphant (Chapman University)
PANEL 6B Decisions, Decisions: Economics and American Law LOCATION Centennial Hall, Room 1404
Chair Fred Gates (Southwestern Oklahoma State University)
First Paper Before Bitcoin – Economic Populism in Missouri: The Panic of 1819 and Monetary Policy Revolt, The Supreme Court Case of “Craig v Missouri” Author: John A. Moore (Walsh College) Second Paper What if the Case Went the Other Way: The Antitrust Counterfactual for the U.S. Steel Case Author: Robert Rogers (Ashland University)
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SESSION 7 • 8:30 A.M. – 10 A.M. PANEL 7A On the Road: Economics and Travel LOCATION Centennial Hall, Room 1403
Chair John A. Moore (Walsh College)
First Paper “The Free Service Evil”: Motorists, Manufacturers and the Repair Problem in Early Automobile Retailing Author: Stephen L. McIntyre (Missouri State University) Second Paper Funding Foreign Travel in Later Medieval England: The Evidence of the Exchange Rolls (c.1367-1434) Author: Tony Kevin Moore (University of Reading) Third Paper Automobile Diffusion and the Relationship with Road Development Interwar Period in the United States Author: Hoa Nguyen (University of Arizona)
PANEL 7B Lessons of the Past: Insights on Teaching Economics and History LOCATION Centennial Hall, Room 1404
Chair Andrew Economopoulos (Ursinus College) First Paper Rags to Riches? Teaching American History with Horatio Alger
Author: Erik Benson (Cornerstone University) Second Paper Huck Finn as History: Reading and Teaching Mark Twain’s Masterpiece as Social and Economic History Author: Ranjit Dighe (State University of New York at Oswego) Third Paper The Virtue and Vice of Pedagogic Choice: The Interesting Case of Alfred Marshall Author: Wade Shilts (Luther College)
SESSION 8 • 10:15 A.M. – 11:15 A.M. PANEL 8A Lessons to be Learned? Examining the Causes of Economic Crises LOCATION Centennial Hall, Room 1403
Chair Jason Taylor (Central Michigan University) First Paper California’s Contribution to the 2008 Financial Collapse
Author: Lynne Pierson Doti (Chapman University) Second Paper Secular Stagnation: You Can’t Keep a Bad Prediction Down Author: Kenneth Weiher (The University of Texas at San Antonio)
PANEL 8B Cotton, Curveballs, and Compensation: the Economics of Labor LOCATION Centennial Hall, Room 1404
Chair Michael V. Kennedy (High Point University)
First Paper Effects of Agricultural Productivity Shocks on Female Labor Supply: Evidence from the Boll Weevil Plague in the U.S. South Author: Philipp Ager (University of Southern Denmark) Second Paper Women at Play: Pay and Production in the All American Girls Professional Baseball League Author: Michael Haupert, Lisa Giddings (University of Wisconsin-La Crosse)
SESSION 9 • 11:30 A.M. – 12:30 P.M. PANEL 9A For What It’s Worth: Economic Calculations in Obtaining and Retaining Property in 18th-Century America LOCATION Centennial Hall, Room 1403
Chair Jeremy Land (University of Tennessee) First Paper The Economics of Flight: Runaways, Loot & Rewards
Author: Michael V. Kennedy (High Point University) Second Paper The Economic Significance of Cloth and Apparel: An Analysis of George Washington’s Shipping Receipts, 1754-1772 Author: Wendy Lucas, Noel Campbell (University of Central Arkansas)
PANEL 9B Getting the Message: The Influence of Media and Marketing LOCATION Centennial Hall, Room 1404
Chair Mike Haupert (University of Wisconsin-La Crosse)
First Paper The Political Economy of Argentine Elections and the Impact of the Radio in the 1940s Author: Jari Eloranta, Nathan Widener (Appalachian State University) Second Paper The Advertising Agency Life-Cycle: A Longitudinal Study of the Swedish Advertising Industry from 1925 to 1990 Author: Erik Lakomaa (Stockholm School of Economics)
KEYNOTE ADDRESS unequal gains: american growth and inequality since 1774 j e f f r e y
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FRIDAY, MAY 29 • 3:45 P.M. – 4:45 P.M. CENTENNIAL HALL 1400 Jeffrey Williamson’s career has come full circle. He established himself as a force in the field of economic history during his years at the University of Wisconsin. He subsequently left Madison for Harvard, where he spent the next 26 years, before returning to Wisconsin as an Honorary Fellow in Economics, first on a visiting basis, and then full time beginning in October 2008. Williamson received his BA in mathematics from Wesleyan University in 1957 and his Ph.D. from Stanford in 1961. His first academic position was at Vanderbilt in 1961. From there he moved to the University of Wisconsin, where he served from 1963-83, when he left for Harvard and became the Laird Bell Professor of Economics. Having retired from Harvard in July 2008, Williamson no longer teaches, but continues to do research on economic history and the contemporary Third World. His current research interests include growth and demographic transition in Asia and the Atlantic economy, the sources of globalization backlash before World War I, mass migrations in the 20th century, and the economic implications of 1492. He is also involved in a project to establish a data base of world factor prices and living standards since 1820, involving the collection and analysis of factor and commodity price data covering the OECD, eastern Europe, the Mediterranean Basin, Latin America, and Asia. A second major project explores economic change in the Third World since 1750. He has served on the editorial boards of several journals, including Explorations in Economic History, which he co-edited from 1969-73. He served as president of the Economic History Association, has been a member of the NBER Development of the American Economy since 1991, and was named a Fellow of the Cliometric Society in 2010. He has also been honored for his teaching prowess. He twice received the Galbraith Prize for teaching excellence at Harvard, and was awarded the Hughes Prize for outstanding teaching from the Economic History Association in 2000. Williamson is one of the most prolific authors in the annals of economic history, with more than two dozen books and 200 articles to his credit.
ECONOMIC & BUSINESS HISTORY SOCIETY o f f i c e r s CHAIR OF THE BOARD OF TRUSTEES Dan Giedeman, Grand Valley State University PRESIDENT Erik Benson, Cornerstone University PRESIDENT-ELECT Lisa Baillargeon, Université du Québec at Montreal SECRETARY-TREASURER John Moore, Walsh College PROGRAM CHAIR Mike Haupert, University of Wisconsin-La Crosse EDITOR Jason Taylor, Central Michigan University ASSOCIATE EDITORS Mark Billings, University of Exeter Michael Coyne, Fairfield University Stephanie O. Crofton, High Point University Neil Forbes, Coventry University BOOK REVIEW EDITOR Erik Benson, Cornerstone University WEBMASTER Olli Turunen, University of Jyväskylä TRUSTEES Ranjit Dighe, SUNY Oswego Luis G. Dopico, Macrometrix Lynne P. Doti, Chapman University Jari Eloranta, Appalachian State University Frederick Gates, Southwestern Oklahoma State University Patrice Gelinas, York University Laurence Malone, Hartwick College Maria Cristina Moreira, Universidade do Minho Eline Poelmans, Catholic University Leuven Wade Shilts, Luther College Janice Traflet, Bucknell University Silvano Wueschner, Air University Der-Yuan Yang, National Kaohsiung First University of Science and Technology FOUNDER Charles J. Kennedy, University of Nebraska
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2014 2013 2012 2011 2010
Manchester, England Baltimore, Maryland Las Vegas, Nevada Columbus, Ohio Braga, Portugal
2009 2008 2007 2006 2005 2004 2003 2002 2001 2000
Grand Rapids, Michigan Montgomery, Alabama Providence, Rhode Island Pittsburg, Pennsylvania High Point, North Carolina Anaheim, California Memphis, Tennessee Chicago, Illinois Albany, New York San Diego, California
1999 1998 1997 1996 1995 1994 1993 1992 1991 1990
San Antonio, Texas Milwaukee, Wisconsin Richmond, Virginia Savannah, Georgia Boulder, Colorado Santa Fe, New Mexico Nashville, Tennessee Seattle, Washington Houston, Texas Lexington, Kentucky
1989 1988 1987 1986 1985 1984 1983 1982 1981 1980
Charleston, South Carolina Toronto, Ontario, Canada San Francisco, California Atlanta, Georgia Chicago, Illinois Salt Lake City, Utah San Antonio, Texas St. Paul, Minnesota Portland, Oregon Billings, Montana
1979 1978 1977 1976
Los Angeles, California Denver, Colorado Denver, Colorado Tempe, Arizona
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2010-2014 2013–14 Neil Forbes, Coventry University 2012–13 Ranjit Dighe, State University of New York at Oswego 2011–12 Lynne Pierson Doti, Chapman University 2010–11 Jason Taylor, Central Michigan University
1994–95 Ann Carlos, University of Colorado – Boulder 1993–94 Kenneth Lipartito, University of Houston 1992–93 Lynne Pierson Doti, Chapman University 1991–92 David O. Whitten, Auburn University 1990–91 Harold C. Livesay, Texas A&M University
2009–10 Maria Christina Moreira, Universidade do Minho
1989–90 Gilbert L. Mathis, Murray State University
2008–09 Daniel Giedeman, Grand Valley State University
1988–89 Jack Blicksilver, Georgia State University
2007–08 Silvano Wueschner, Air University
1987–88 Christine Rosen, University of California – Berkeley
2006–07 Roberto Mazzoleni, Hofstra University
1986–87 Paul Tiffany, University of Pennsylvania
2005–06 Michael Namarato, University of Mississippi
1985–86 Larry Hufford, Incarnate Word College
2004–05 Jamie Stitt, High Point University
1984–85 Mansel Blackford, Ohio State University
2003–04 Kenneth Weiher, University of Texas at San Antonio
1983–84 Allen L. Bures, Radford University
2002–03 Harvey Hudspeth, Mississippi Valley State University 2001–02 Malcolm Russell, Union College 2000–01 Laurence Malone, Hartwick College 1999–2000 Richard Keehn, University of Wisconsin – Parkside
1990-1999 1998–99 Douglas Steeples, Mercer University 1997–98 Gene Smiley, Marquette University 1996–97 Michael Smith, University of South Carolina 1995–96 Charles Dellheim, Arizona State University
1982–83 William T. Carlisle, University of Utah 1981–82 James Soltow, Michigan State University 1980–81 Paul V. Black, California State University, Long Beach 1979–80 Robert T. Smith, Eastern Montana College
1978–79 Edwin J. Perkins, University of Southern California 1977–78 Philip R. Smith, Michigan State University 1976–77 Robert L. Peterson, University of Montana 1975–76 Charles J. Kennedy (EBHS founder), University of Nebraska – Lincoln