Business, Banking and Politics. The case of British steel, 1918-1939

Notes:

Winner of the Wadsworth Prize for Business History, 1987. Scholarly account dealing with the interwar steel industry and especially the 'institutional structures of firms, banks and government' that were crucial in its development between the wars. Considers especially the institutional barriers to modernisation through new technology adoption, these barriers being both internal to the firm - family owners, creditors, managers - and external - banks, state, with many rigidities inherited from the 19th century economy. 'This book attempts to show the importance of taking institutional structures seriously in analysing the development of the economy by focusing on a case study of one of Britain's most important industries, steel'. The book is structured in three parts: 1] 'The steel companies in the interwar years. Market environment, industrial structure and decision making, 1918-1939' - a] decision making entrepreneurs and the theory of the firm; b] economics of steelmaking, market environment and industrial structure; c] the north east coast steel firms, 1918-1939; d] the Scottish steel industry, 1918-1939; e] Richard Thomas & Co and the tinplate industry, 1918-1939'; f] structure and strategy in British industry'; 2] 'The banks and the steel industry in the interwar years' - a] banking and industry in the early twentieth century; b] political and interventionist role of central banking in industry, 1920-1932; c] banks, firms and industrial rationalization; d] renewed involvement in the late thirties; e] banks and industrial restructuring in the interwar years; 3] 'The state and the steel industry in the interwar years' - a] government and the industry in the 1920s; b] ditto 1930s; c] the limits of state intervention. The volume carries much information about the major firms: Baldwins Ltd; William Beardmore & Co Ltd; David Colville & Sons Ltd; Consett Iron Co Ltd; Dorman Long & Co Ltd; Lancashire Steel Corp Ltd; South Durham Steel & Iron Co Ltd; Steel Co of Scotland Ltd; Stewarts & Lloyds Ltd; Richard Thomas & Co Ltd; United Steel Co Ltd