The author provides a systematic analysis of the history of London transport from 1905 to 1948, focusing on whose financial interests it operated in, its governance, and its leadership and the implications of these aspects. He concentrates on why events occurred and business, organizational, and management history and the present service and theories of quasi-public or hybrid organizations, rather than what and how events happened. He describes the historical development of London transport through the themes of finance, governance, and management; the transport's investors, employees, and passengers; governance and the lack of accountability of the London Passenger Transport Board; and how inefficiencies and temptations of unaccountable power were avoided through management by Lord Ashfield and Frank Pick.

James Fowler is a lecturer at The University of Essex, UK. His academic interests are in the fields of business, management and organisational history, having published work on the performance of quasi-public organisations, organisational responses to crises and the purposes of statistical accounting. Prior to his academic career he was an Officer in the armed forces for 16 years.

Chapter One: Modern Relevance