Harvard Studies in Business History
News over the Wires tells the story of the development of the news wire service as a business operation strategically positioned between the telegraph industry and the press. This unique history of telegraphic news gathering and news flow evaluates the effect of the innovative technology on the evolution of the concept of news and journalistic practices. It also addresses problems of technological innovation and diffusion. Menahem Blondheim's main concern, however, is the development of oligopoly in business and the control revolution in American society. He traces the discovery of timely news as a commodity, presenting a lively and detailed account of the emergence of the New York Associated Press (AP) as the first private sector national monopoly in the United States and Western Union as the first industrial one.
The book assembles, in a narrative parade of compelling personalities and colorful episodes, a wide-ranging body of primary sources, many of them previously untapped. It reconstructs the career of AP's maverick manager, Daniel H. Craig, and highlights his achievements as one of the most creative and effective, if least appreciated, of America's great system builders. The Associated Press and Western Union provide a novel perspective on processes of modernization and national integration in America. News over the Wires demonstrates the significance of the monopolistic structure of the news business and its important impact on economic development, on the political process, and on social integration in general.
The first history of the involvement of American business in direct foreign investment explores a number of pertinent questions: What was the genesis of U.S. business interests in overseas markets? What perspectives guided the financial and social policies of the pioneering companies? In what way did the activities of American business abroad influence U.S. foreign policy?
Mira Wilkins recounts the histories of early foreign investment by such familiar companies as Singer, United Fruit, Edison, American Smelting and Refining, Anaconda Copper, American Telephone, and International Harvester. Refuting a well-established myth, she demonstrates that early American foreign investment was not confined to the extractive industries and utilities, and shows that, by 1914, while America remained a debtor nation in international accounts, a large number of U.S. multinational manufacturing corporations had already come into existence. Indeed, the percentage of the 1914 gross national product attributed to direct foreign investment equals that percentage of the 1966 GNP.
Though wholly self-contained, this works joins with the author’s subsequent volume, The Maturing of Multinational Enterprise: American Business Abroad from 1914 to 1970, to form the first overall history of American business abroad from our earliest times to the late twentieth century.