This history of three powerful family firms located in different European countries takes place over a period of more than two hundred years. The interplay and the changing social and legal arrangements of the families shaped the development of a European capitalism quite different from the Anglo-American variety.
Qualifying claims by Alfred Chandler and David Landes that family firms tend to be dysfunctional, Harold James shows how and why these steel and engineering firms were successful over long periods of time. Indeed, he sees the family enterprise as particularly conducive to managing risk during periods of upheaval and uncertainty when both states and markets are disturbed. He also identifies the key roles played by women executives during such times.
In "Family Capitalism," James tells how "iron masters" of a classical industrial cast were succeeded by new generations who wanted to shift to information-age systems technologies, and how families and firms wrestled with social and economic changes that occasionally tore them apart. Finally, the author shows how the trajectories of the firms were influenced by political, military, economic, and social events and how these firms illuminate a European model of "relationship capitalism."
Show moreThis history of three powerful family firms located in different European countries takes place over a period of more than two hundred years. The interplay and the changing social and legal arrangements of the families shaped the development of a European capitalism quite different from the Anglo-American variety.
Qualifying claims by Alfred Chandler and David Landes that family firms tend to be dysfunctional, Harold James shows how and why these steel and engineering firms were successful over long periods of time. Indeed, he sees the family enterprise as particularly conducive to managing risk during periods of upheaval and uncertainty when both states and markets are disturbed. He also identifies the key roles played by women executives during such times.
In "Family Capitalism," James tells how "iron masters" of a classical industrial cast were succeeded by new generations who wanted to shift to information-age systems technologies, and how families and firms wrestled with social and economic changes that occasionally tore them apart. Finally, the author shows how the trajectories of the firms were influenced by political, military, economic, and social events and how these firms illuminate a European model of "relationship capitalism."
Show moreHarold James is the Claude and Lore Kelly Professor in European Studies and Professor of History and International Affairs at Princeton University.
In the beginning was the family firm. However, many theories of
managerial capitalism have theorized the downfall of the family
firm by focusing on its disadvantages. Yet families still own and
control a significant proportion of even large,
internationally-active corporations. By contrast, in Family
Capitalism, Harold James highlights many of the strengths of family
firms, particularly during periods of crisis or restructuring. At
times, families offer a bedrock of trust, values, and long-term
continuity. In Family Capitalism, James provides an excellent and
insightful story of three major steel companies, de Wendel, Haniel,
and Falck, reaching over two centuries. It contributes to the
growing field of comparative history and manages to look at
long-term continuities in European business development rather than
confining the story to classic chronological breaks. The family
firm is likely to maintain its significant presence well into the
future.
*Jeffrey Fear, Harvard Business School*
Family Capitalism is an important contribution to an area of
business history that holds particular fascination even for
non-specialists, namely, family history. James's approach enables
him to transcend the usual concentration on a single family and its
enterprises and reflect on the general characteristics of family
capitalism in Europe and its role in what has been, after all, one
of the most important industries in European
industrialization--steel.
*Gerald D. Feldman, University of California, Berkeley*
Harold James is the author of several important works of economic
history, including studies of the Depression and analyses of the
Deutsch Bank during the Nazi period. All of these works involve
careful consideration of the interacting cultural, political, and
legal factors shaping individual and institutional actors in
business and economic life. They are also the fruit of meticulous
archival research. In his latest work, Family Capitalism, James
brings his scholarly skills to bear upon another important and
growing area of inquiry--business families and their role in
economic development since the advent of modern capitalism--and, in
doing so, confirms his reputation as one of the world's preeminent
historians of finance, banking, and business...James' purpose is
refreshingly different.
*Journal of Markets and Morality*
Although James raises more questions in this book than he can
answer, his three well-crafted case studies make a significant
contribution to the ongoing reconsideration of family capitalism
and its role in the economic development of modern Europe. I highly
recommend them.
*Journal of Modern History*
|
Ask a Question About this Product More... |
|
