About the authors Foreword Preface Introduction: the corporation in the public square Part I. The Seeds of Corporate Responsibility: 1. Foundations of capitalism and the birth of the corporation (1776-1880) 2. The turbulent rise of the corporation (1880-1900) 3. The Progressive Era and a new business-government relationship (1900-18) 4. The corporation's case for social responsibility (1918-29) 5. The corporation and national crisis (1929-45) Part II. Corporate Responsibility Comes of Age: 6. Corporate legitimacy affirmed (1945-63) 7. A revolution of rising expectations (1963-73) 8. Managing corporate responsibility (1973-81) Part III. Taking Account of Corporate Responsibility: 9. Stakeholders and stockholders (1981-9) 10. Corporate responsibility institutionalizes and globalizes (1989-2001) 11. A new social contract for the twenty-first century (2001-11) Conclusion: patterns and prospects Endnotes References List of plates Index.

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Corporate Responsibility: The American Experience

The aim of this article is to survey and analyze the succession of writings on the objectives of financial reporting during the past 90 years with a view towards contributing to an understanding of the origins and limitations of conceptual frameworks. The article begins with a review of the extensive literature, including the series of recommended and approved conceptual frameworks, in the United States and then proceeds to the literatures in Great Britain, Canada, and Australia, followed by a discussion of the framework issued by the IASC in 1989 and chapters 1 and 3 of the framework issued by the IASB/FASB in 2010. Summary remarks about Continental Europe conclude the survey. Attention is drawn to the criticisms of the objectives approach as well as to its possible perverse consequences for the remainder of the framework. In the course of the survey, there is an attempt to trace the evolution of stewardship and conservatism, or prudence, in the series of frameworks.

The Objectives of Financial Reporting: A Historical Survey and Analysis

....................................................................................................................... 4 Declaration ................................................................................................................. 6 Copyright .................................................................................................................... 6 Acknowledgement ...................................................................................................... 7 On Operation Breadbasket ..................................................................................... 12 Introduction ............................................................................................................... 12 Operation Breadbasket .............................................................................................. 13 Background ............................................................................................................... 18 Historiographical Issues ............................................................................................. 25 Structure and Methodology ........................................................................................ 42 Conclusion................................................................................................................. 51 Chapter One: Civil Rights in the Workplace ....................................................... 54 Introduction ............................................................................................................... 54 African Americans and Job Discrimination .............................................................. 56 Ascent and Decline of Fair Employment ................................................................... 63 Affirmative Action and Rise of Conservative Business ............................................... 86 Preferential Treatment and Black Power ................................................................. 103 Conclusion............................................................................................................... 108 Chapter Two: Breadbasket in Atlanta (1962-66) .............................................. 112 Introduction ............................................................................................................. 112 Origins of Breadbasket ............................................................................................ 114 Breadbasket Begins ................................................................................................. 139 Breadbasket Grows ................................................................................................. 145 Prophetic Religion .................................................................................................... 163 Conclusion............................................................................................................... 173 Chapter Three: Breadbasket in Chicago (1966-72)........................................... 175 Introduction ............................................................................................................. 175 Origins .................................................................................................................... 176 Beginnings in Chicago.............................................................................................. 187 Controversies ........................................................................................................... 203 Breadbasket after King ............................................................................................ 211 Conclusion............................................................................................................... 228

S.C.L.C. Operation Breadbasket, from economic civil rights to black economic power

This article is a survey and analysis of the succession of writings on the objectives of financial reporting during the past 90 years. Its aim is to contribute towards an understanding of the origi...

The objectives of financial reporting: a historical survey and analysis

This article presents a critical survey of ten books from the history of capitalism, a newly emerging subfield of history. At their best, the books offer provocative insights and vivid descriptions of some of the darker episodes of our economic past. Yet specious arguments and failures of analytical reasoning sometimes undermine these books' effectiveness as social criticism. I highlight insights from the field of economic history that would strengthen the work of historians of capitalism. I also suggest some opportunities for dialogue, if not collaboration, between the two communities of scholars.

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Economic History, Historical Analysis, and the “New History of Capitalism”

The financial crisis that began in 2008 has made Americans keenly aware of the enormous impact Wall Street has on the economic well-being of the nation and its citizenry How did financial markets and institutions--commonly perceived as marginal and elitist at the beginning of the twentieth century--come to be seen as the bedrock of American capitalism? How did stock investment--once considered disreputable and dangerous--first become a mass practice? Julia Ott tells the story of how, between the rise of giant industrial corporations and the Crash of 1929, the federal government, corporations, and financial institutions campaigned to universalize investment, with the goal of providing individual investors with a stake in the economy and the nation As these distributors of stocks and bonds established a broad, national market for financial securities, they debated the distribution of economic power, the proper role of government, and the meaning of citizenship under modern capitalism By 1929, the incidence of stock ownership had risen to engulf one quarter of American households in the looming financial disaster Accordingly, the federal government assumed responsibility for protecting citizen-investors by regulating the financial securities markets By recovering the forgotten history of this initial phase of mass investment and the issues surrounding it, Ott enriches and enlightens contemporary debates over economic reform

When Wall Street Met Main Street: The Quest for an Investors' Democracy

https://www.jstor.org/stable/info/27694731

“The Free and Open People's Market”: Political Ideology and Retail Brokerage at the New York Stock Exchange, 1913–1933

Abstract:Racial wealth inequality is no accident of history. Rather, it is the intended result of the southern Democrats in Congress who controlled federal tax policy throughout most of the twentieth century. Beginning in the 1930s, champions of white supremacy, such as Senator Pat Harrison (D-MI), Senator Walter George (D-GA), and Senator Harry F. Byrd, Sr. (D-VA), turned to an ostensibly race-neutral provision of the US income tax code—the preferential treatment of gains from investment—to uphold their (im)moral economy of “whites-only” wealth. After 1965, these segregationists’ successors—particularly Senator Russell B. Long (D-LA) and Senator Lloyd Bentsen (D-TX)—furtively rebuilt and shored up the structure of racial inequality with additional tax breaks (called “tax expenditures”) for investors. Our income tax system embodies—and immortalizes—a Jim Crow–era moral economy of “whites-only” wealth. Thanks to pro-investment tax expenditures, the racial wealth gap has widened over the last four decades as the very richest American households—the white 1 percent—compounded their wealth, at the expense of everyone else.

Julia C. Ott

Papers

When Wall Street Met Main Street: The Quest for an Investors' Democracy

“The Free and Open People's Market”: Political Ideology and Retail Brokerage at the New York Stock Exchange, 1913–1933

Why Is Wealth White?