Globalisation and the evolution of international retailing: a comment on Alexander's 'British overseas retailing, 1900-1960'

Nicholas Alexander's (2011. British overseas retailing, 1900–60: International firm characteristics, market selections and entry modes. Business History, 53, 530–556) survey of British overseas retailers from 1900 to 1960 provides pathbreaking new evidence of international retailing activity during the first globalisation boom. The article surveys this and other recent evidence, and confirms that international retailing was far more significant up to 1929 than previously thought. This activity was overwhelmingly undertaken by non-retailers, however, and hence by multinationals whose advantages in retailing were fundamentally unsustainable over the long run. Even the department store format, the principal retail innovation of the period, was not internationalised primarily by multinationals. Rather it was diffused via indigenous entrepreneurs, driven by a rapidly growing global demand for western style fashion and dress.

‘These changes and accessions of knowledge’: translation, scientific travel writing and modernity - Alexander von Humboldt's Personal Narrative

A second English translation of Alexander von Humboldt's account of travel to South America, the Relation historique (1814–25), was published between 1852 and 1853. Appearing some 30 years after the first seven-volume translation (1814–29) by Helen Maria Williams, this second rendering of the Personal Narrative by Thomasina Ross was an abridged version that aimed to make Humboldt's travelogue more relevant to the mid-century reader. This translation has largely been overlooked by Humboldt scholars, despite it being a far more affordable, accessible and popular edition. I discuss here how Ross's revisions can be understood within a larger process of rereading and revision that responded to critics’ assessments of the first translation. Emphasising the status of the Personal Narrative as a text in flux, I assess how Ross modernised it to meet the demands of a new readership, recasting the image that Humboldt had constructed of himself as a travelling scientist, scientific writer and member of the international scientific community.

Do real balance effects invalidate the Taylor principle in closed and open economies?

This paper examines the determinacy implications of forecast-based monetary policy rules that set the interest rate in response to expected future inflation in a Neo-Wicksellian model that incorporates real balance effects. We show that the presence of such effects in closed economies restricts the ability of the Taylor principle to prevent indeterminacy of the rational expectations equilibrium. The problem is exacerbated in open economies, particularly if the policy rule reacts to consumer-price, rather than domestic-price, inflation. However, determinacy can be restored in both closed and open economies with the addition of monetary policy inertia.