How do economic actors influence change, and what role does business form play in economic development? The period after 1860 in Britain is often characterised by the arrival of free incorporation and the growing dominance of the corporate economy in shaping the trajectory of economic development. Both domestic and comparative explanations of Britain’s economic performance have tended to focus on ‘Big business’ and debates around the ownership and organization of these companies on corporate and economic performance. Explanations have often neglected firm level decisions and decision makers that often drive change. This session seeks to address this by examining the complexity, size and shape of different aspects of business activity in Britain between 1860 and 1920.
The three papers in this panel showcase a number of key economic actors that played roles in transforming Britain’s economy in this period. Focusing on individual female entrepreneurs, the largest manufacturing businesses, and the corporate leaders who emerged in the aftermath of World War 1. the papers examine how these different actors made a contribution.
The papers also reflect on the changing economic, social, and political contexts in which these actors operated, and explore a range of different mechanisms through which actors were able to transform themselves, business organizations, cities, and industries. They show how these actors were shaped by (and shaped) a transforming institutional environment which created a variety of incentives. The papers reveal that the actors were driven by a diverse set of motivations and purposes for their activities.