Concentration and Public Policy
We have in this volume described the growth of concentration in private manufacturing industry in the U.K., and analysed its causes. This is not, of course, the only sector of the economy in which large organisations have substantially increased their role in the present century. The process of concentration through acquisition which we have seen at work in manufacturing had largely run its course in banking and in rail transport at an earlier date. The refining and distribution of oil products is dominated, here as elsewhere, by a handful of multinational oil companies. Construction is still the bastion of the small firm. The advantages of large scale production are slight, the flexibility of the small organisation is especially valuable: but here too concentration has been increasing substantially (Hillebrandt 1971).
KeywordsSmall Firm Modern Industry Rail Transport Antitrust Policy Industrial Concentration
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