We give a survey on generalized Krein algebras \(K_{p,q}^{\alpha,\beta}\) and their applications to Toeplitz determinants. Our methods originated in a paper by Mark Krein of 1966, where he showed that \(K_{2,2}^{1/2,1/2}\) is a Banach algebra. Subsequently, Widom proved the strong Szeg\H{o} limit theorem for block Toeplitz determinants with symbols in \((K_{2,2}^{1/2,1/2})_{N\times N}\) and later two of the authors studied symbols in the generalized Krein algebras \((K_{p,q}^{\alpha,\beta})_{N\times N}\), where \(\lambda:=1/p+1/q=\alpha+\beta\) and \(\lambda=1\). We here extend these results to \(0<\lambda<1\). The entire paper is based on fundamental work by Mark Krein, ranging from operator ideals through Toeplitz operators up to Wiener-Hopf factorization.
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