This paper examines the value of connections between German industry and the Nazi movement in early 1933. Drawing on previously unused contemporary sources about management and supervisory board composition and stock returns, we find that one out of seven firms, and a large proportion of the...

We examine the effect of close ties with the NSDAP on the stock price of listed firms in 1932-33. We consider not only links between the National Socialists and executives, as was common in earlier work, but also with supervisory board members – whose importance is hard to overestimate in the...

This paper analyzes patterns of industrial structure and party competition in the 2012 presidential election. The analysis rests on a new and more comprehensive database that catches more of the myriad ways in which businesses and major investors make political contributions than previous...

The central focus of this book is the relationship between money, the sphere of production, and the State. It explores how best to adapt the fundamental ideas of the circulationist perspective to achieve a better understanding of the financialisation of the production processes within...

Impressed by the sweeping implications of the mind-body problem, the German philosopher Arthur Schopenauer referred to that famous conundrum as the Weltknoten, the "World Knot." Economic history is more prosaic. Yet the economic experience of the United States between World War I and the end of...

A general theorem on the asymptotically optimal sequential selection of experiments is presented and applied to a Bayesian classification problem when the parameter space is a finite partially ordered set. The main results include establishing conditions under which the posterior probability of...