Synopses & Reviews
This book examines the evolution of multinational trading companies from the eighteenth century to the present day. During the Industrial Revolution, British merchants established overseas branches which became major trade intermediaries and subsequently engaged in foreign direct investment. Complex multinational business groups emerged controlling large investments in natural resources, processing, and services in Asia, Latin America, and Africa.
Review
"...the study, by illuminating how companies adapt to survive and prosper in different and changing cultural and sociopolitical conditions, is a welcomed supplement to the sterility depicted by orthodox economic models of the firm and illustrates the great strength of historical perspective for economic analysis."--Choice
"This is a splendid book. It not only delineates the trading companies' expansion (and contraction) but also puts that story in the context of the evolving world economy....It is essential reading for every economic and business historian interested in the history of multinational enterprise, in British economic history, and also in where British business fits in the evolution of the world economy....a major accomplishment."--EH.NET
"...an innovative contribution to British economic history....Merchants is a clear and coherent analysis of an elusive subject."--Business History Review
"In this impressive and important study, Jones successfully balances the use of detailed evidence drawn from extensive archival research with attention to broader questions and perspectives. ... This volume will rapidly become required reading for all those interested in the history of international business; but it deserves a wider audience, especially among those dealing with colonialism and economic development."--Enterprise and Society
Review
"In this impressive and important study, Jones successfully balances the use of detailed evidence drawn from extensive archival research with attention to broader questions and perspectives. ... This volume will rapidly become required reading for all those interested in the history of international business; but it deserves a wider audience, especially among those dealing with colonialism and economic development."--
Enterprise and Society"This book is a landmark in British business history."--International Journal of Maritime History
About the Author
Geoffrey Jones is Professor of Business History in the Department of Economics, University of Reading, UK.
Table of Contents
1. Concepts.
2. Foundations.
3. From Trade to Investment.
4. Trading in Crisis.
5. Concentration and Diversification.
6. Business Groups.
7. Management.
8. Networks.
9. Natural Resources.
10. Traders as Manufacturers.
11. End Game.
12. Conclusion.
Appendix 1: Post-Tax Return on Net Capital Employed of Selected British Trading Companies, 1895-1998
Appendix 2: Pre-Tax Return on Net Capital Employed of Selected British Trading Companies, 1948-1998
Appendix 3: Sources for Calculations on Capital Employed of British Trading Companies