Reference Reviews

Doug’s Student Reference Room

Historical Encyclopedia of American Business, edited by Richard L. Wilson. 3 vols., 1127 pp. Pasadena, CA: Salem Press. ISBN: 978-1-58765-518-0. $364.

In the past year, students have been asking more and more questions about business and economics as they watch the global economy spiral into a deep recession. Salem Press new reference set offers a resource that helps build understanding about both recent and historical business developments. Nearly 500 articles span American business history from Columbus to the financial crisis of 2008. Students wanting to know more about the deregulation of financial institutions, an overview of Fannie Mae, Freddie Mac and collateralized debt obligations will find simple, clear explanations of how each contributed to the current business meltdown. An equally comprehensive entry explains the way Thomas Jefferson’s decision to cut trade to England and France threw the U.S. into an economic depression. The alphabetically arranged entries generally run two or more pages and include articles about various sectors of the economy, general economic concepts, legal topics and the way historical figures and events have influenced business and the economy. Each entry begins with ready-reference information such as a definition, a one-sentence description of an event, or identification of an agency or organization; this is followed by relevant dates and places and a short paragraph explaining the significance of the topic. The signed articles conclude with a short annotated list of recommendations for further reading and a “see also” list cross-referencing other entries. Articles target high school students and above and do not depend on extensive familiarity with business and economics nomenclature. The range of topics makes this set valuable in support of a variety of standards common to U.S. history and American government courses. The last volume includes a categorized bibliography; a section of one-paragraph biographies about nearly 100 important historical figures; a similar section describing notable companies and corporations; a section describing major federal business and economics laws; and several pages recounting major court decisions. An extensive timeline from Columbus’s arrival through early 2009 is very helpful in connecting this set’s entries to other historical events. A list of entries by category and both a personage and subject index complete the set. Occasional black and white photos, charts and graphs accompany the text. Additional graphic material would enhance the appeal to high school students; nevertheless, this new work offers clear and concise material that would be of great value to most high school or public library collections. Highly recommended for high school and public libraries.