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1. Robert Maxwell’s Expectations Gap: Regulation and Reputation in the British Communications Industry, 1981-91

Author:
Charlie Harris
Publication Date:
02-2023
Content Type:
Case Study
Institution:
Oxford Centre for Global History
Abstract:
During Robert Maxwell’s turbulent lifetime, the world knew him as one of the most successful businessmen in Britain, presiding over a publishing and media empire in direct competition with that of Rupert Murdoch. In 1991, Robert Maxwell died – at which point the world discovered that he was, in fact, far beyond bankrupt. As banks called in their huge loans, accountants found that his empire boasted £2 billion in debt. When he drowned, various auditors and authorities were close to catching him in an enormous fraud. Maxwell had stolen around £460 million from his employees’ pension funds and committed extensive stock fraud in order to manipulate the share prices of his empire. Accusations of fraud and mismanagement dogged Maxwell’s career, but to little effect. Beginning with a single publishing house, he built a media empire. His rivalry with Rupert Murdoch – and perhaps his emotional state, which was notoriously volatile and competitive – drove him to expand at an unsustainable pace, which he supported with confidence trickery and enormous loans. His debts quickly outstripped his assets. Desperately scrambling to repay the loans, he turned to stock fraud and his employees’ pension funds. Still desperate for capital six months before his death, Maxwell floated his largest-ever venture – Mirror Group Newspapers – which successfully attracted £250 million in investment, despite the destitution of its parent company. Public autopsies concluded that the blame lay not just with Maxwell, but with advisers, regulators, and complicit financial institutions. Maxwell killed himself (though some still speculate he was murdered) shortly before a scheduled meeting that would have uncovered his fraud. Maxwell did not leave his family destitute, but they no longer had immediate access to the lifestyle to which they had become accustomed. His sons continued working in the City of London. His daughter, Ghislaine Maxwell, continued to circulate in high society. Her crimes are now better known than her father’s; she is famous for her work as Jeffrey Epstein’s right-hand woman, procuring victims (often under-age) for Epstein’s “prostitution ring” (something of a misnomer, as the term implies consent). Both scandals implicated some of the most powerful figures of their day, and in both cases, th
Topic:
Communications, History, Capitalism, Industry, and Robert Maxwell
Political Geography:
Britain and Europe

2. Imperial Mecca: An Interview with Prof. Michael Low

Author:
Michael Low and Mahdi Chowdhury
Publication Date:
02-2021
Content Type:
Commentary and Analysis
Institution:
The Toynbee Prize Foundation
Abstract:
The hajj—that is, the annual pilgrimage to Mecca—is a pillar of faith for Muslims, but in the late nineteenth century, it was also a legal, epidemiological, and imperial frontier. In his long-anticipated Imperial Mecca: Ottoman Arabia and the Indian Ocean Hajj, Michael Christopher Low offers an account how that “very heart of Islam”—Mecca and the Hijaz—came to straddle “two imperial worlds.” Imperial Mecca charts how the British Empire came to challenge Ottoman imperial legitimacy and, subsequently, affect its pilgrimage administration, its relationship to non-Ottoman Muslims, and inspire administrative anxieties around the semi-autonomous province of the Hijaz. Since his widely-read 2008 article, “Empire and the Hajj,” Low has been a leading contributor in the now flourishing field of hajj studies. Based on archives largely based in Istanbul and London, Imperial Mecca consolidates nearly fifteen years of research, reflection, and labour and reasserts an understudied “Ottoman sense of space, place, population, environment, and territory back [into] our understanding of the transimperial hajj.” Michael Christopher Low is an Assistant Professor of History at Iowa State University and, presently, a Senior Humanities Research Fellow at NYU Abu Dhabi. Along with the publication of Imperial Mecca, he is also the co-editor of the recently published volume, The Subjects of Ottoman International Law. In our interview, we discuss—among many topics—Low’s intellectual and biographical journey as a historian, Ottoman archives and historiography, and the present and future of hajj studies.
Topic:
Imperialism, Islam, Religion, History, Ottoman Empire, and British Empire
Political Geography:
Britain, Mecca, Arabian Peninsula, and Indian Ocean

3. Turkish-Greek Rapprochement in the 1930s: The British Factor as a Third Party

Author:
Emine Tutku Vardağlı
Publication Date:
04-2021
Content Type:
Journal Article
Journal:
Journal of Academic Inquiries
Institution:
Sakarya University (SAU)
Abstract:
The third party effect in international relations gained popularity in 1990s in the context of conflict resolution. However, the Turkish-Greek relations in the modern era have always been discussed in reference to a third party involvement and Britain has always prevailed over the other countries as the most prominent third party. This study searches for the British influence on the Turkish-Greek rapprochement in 1930s. The British factor influence is usually taken as a matter of Great Power dominance or the “provocateur of rivalries between the two nations” from the Turkish point of view or “cooperation of allies” from the Greek point of view. Whereas, this study focuses on a specific conjuncture in which Britain acted neither as a “provocateur” nor as an “ally” for any party. In reference to the historical sources, it is documented that from the late 1920s the British approach to the Turkish-Greek affairs was altered dramatically, parallel to the overarching systemic changes in the interwar period Specifically, it is argued that the revision of British financial policy in response to the Great Depression and its retreat from the Eastern Mediterranean as a naval power directed Greece to change its foreign policy orientations with a sudden demarche and offer Turkey a peace settlement. Rather than attributing this rapprochement to the efforts of charismatic leaders, this study analyses the issue with a realist mind in reference to the British policies modified in parallel to the systemic changes during the interwar years.
Topic:
International Relations, History, and Rapprochement
Political Geography:
Britain, Turkey, Greece, and Mediterranean