The Use of the Term in Economics

  • Fritz Machlup


In economics the word was first employed in industrial organisation to refer to combinations of business firms through agreements, cartels, concerns, trusts, and mergers — horizontal integration referring to combinations of competitors, vertical integration to combinations of suppliers with customers.1 In the sense of combining separate economies into larger economic regions the word integration has a very short history.


Foreign Trade Economic Integration Custom Union Horizontal Integration Marshall Plan 
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Copyright information

© Fritz Machlup 1977

Authors and Affiliations

  • Fritz Machlup
    • 1
  1. 1.New York UniversityUSA

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