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Privacy, publicity, and reputation: how the press regulated the market in nineteenth-century England

Research output: Contribution to journalJournal article

Published

Journal publication date2013
JournalBusiness History Review
Journal number4
Volume87
Number of pages23
Pages679-701
Early online date18/12/13
Original languageEnglish

Abstract

Many commentators believe that the business press “missed” the story of the twenty-first century—the 2008 economic crisis. Condemned for being too close to the firms they were supposed to be holding to account, journalists failed in their duties to the public. Recent historical studies of business journalism present a similarly pessimistic picture. By contrast, this article stresses the importance of the press as a key intermediary of reputation in the nineteenth-century marketplace. In England, reporters played an instrumental role in opening up companies' general meetings to the public gaze and in warning investors of fraudulent businesses. This regulation by reputation was at least as important as company law in making the City of London a relatively safe place to do business by the start of the twentieth century.

Bibliographic note

http://journals.cambridge.org/action/displayJournal?jid=BHR The final, definitive version of this article has been published in the Journal, Business History Review, 87 (4), pp 679-701 2013, © 2013 Cambridge University Press.