Category: Economics, Harvard University
Related Reading: A complex network of intersecting financial, legal, political, and cultural factors all contributed to the development of the South Sea Bubble, the eventual collapse of the South Sea Company in 1720, and the financial ruin left in its wake. The years leading up to the South Sea Bubble were a time of financial promise and enthusiasm for Britain. Following the War of Spanish Succession (1701-1714), there was the increased potential of foreign trade and the turn toward a more global marketplace. Wealth and luxury were no longer reserved to the aristocracy. Consumerism was on the rise, and class and gender boundaries were increasingly blurred when it came to investing in the stock market.
The Human Factor Introduction In the 1930s Harvard Business School colleagues Donald Davenport and Frank Ayres contacted leading businesses and requested photographs for classroom instruction—images Davenport hoped would “reveal the courage, industry and intelligence required of the American working man.” They amassed more than 2,100 photographs, from strangely beautiful views of men operating Midvale Steel’s 9,000-ton hydraulic press to women assembling tiny, delicate parts of Philco radios. Now students, and America’s aspiring corporate managers, had visual data to study “the human factor,” the interaction of worker and machine. But the pictures were more than documentary records.