At the beginning of this century, the hundred largest firms in British manufacturing industry controlled about 15% of its net output. The biggest of these was J. and P. Coats, which had net assets of £5.5m and employed 5000 workers. The share of output held by the top hundred companies now approaches 50%. A measure of the change which has occurred can be obtained by looking at one of the smallest of these 1975 giants. Scottish and Newcastle Breweries, for example, employs 27,500 people, sells output worth £200m annually, and holds assets to the value of £150m. The largest U.K. manufacturer, Imperial Chemical Industries, has 200,000 employees and assets in excess of, £2000m. The principal concern of this book is this increasing concentration of control over industrial capital — and hence over output, sales and employment - by large corporations.
KeywordsSmall Firm Large Firm Modern Industry Internal Growth Industrial Concentration
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