NDLI: A Schumpeterian view of the Great Merger Movement in American manufacturing

Please wait, while we are loading the content...

A Schumpeterian view of the Great Merger Movement in American manufacturing

Content Provider	Springer Nature Link
Author	Smythe, Donald J.
Copyright Year	2009
Abstract	This paper offers a Schumpeterian view of the Great Merger Movement in the American manufacturing industries, which occurred from 1895 to 1904. From this perspective, the Great Merger Movement was a response to competitive pressures associated with a number of significant technological innovations which occurred at the end of the nineteenth century. Because the implementation of these innovations required large capital investments, and because the returns to the investments would have been highly uncertain if they had been made competitively, firms at the turn of the twentieth century sought to restrain competition. Since the uncertainty precluded cooperating at arms-length, cooperation was internalized through horizontal consolidations. The consolidations in turn increased the size of the capital investments undertaken to implement the technological innovations. The theory is supported with historical evidence about the technological environment and industrial conditions at the turn of the twentieth century, and an econometric model is tested using data from the Twelfth and Thirteenth Censuses of Manufactures.
Starting Page	141
Ending Page	170
Page Count	30
File Format	PDF
ISSN	18632505
Journal	Cliometrica
Volume Number	4
Issue Number	2
e-ISSN	18632513
Language	English
Publisher	Springer-Verlag
Publisher Date	2009-04-29
Publisher Place	Berlin, Heidelberg
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Great Merger Movement Technological change Market power Schumpeterian hypothesis Antitrust Methodology and the History of Economic Thought Econometrics History Economic Theory
Content Type	Text
Resource Type	Article
Subject	History Economics and Econometrics

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

The Insiders’ Dilemma: An Experiment on Merger Formation

Explaining UK wage inequality in the past globalisation period, 1880–1913

Theory, history, and the great recession

West versus Far East: early globalization and the great divergence

Technological Change, Human Capital and Extinction

The housing slump and the great depression in the USA

RETRACTED ARTICLE: Investor sentiment, stock market valuation and merger activity

Ken Sokoloff Remembrance

What is ‘Cliometrica’?

A Schumpeterian view of the Great Merger Movement in American manufacturing

Similar Documents

The Insiders’ Dilemma: An Experiment on Merger Formation

Explaining UK wage inequality in the past globalisation period, 1880–1913

Theory, history, and the great recession

West versus Far East: early globalization and the great divergence

Technological Change, Human Capital and Extinction

The housing slump and the great depression in the USA

RETRACTED ARTICLE: Investor sentiment, stock market valuation and merger activity

Ken Sokoloff Remembrance

What is ‘Cliometrica’?

A Schumpeterian view of the Great Merger Movement in American manufacturing