Growth and Transformati21

Growth and Transformati21 - Aftertwogreatwars,...

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Growth and Transformation After two great wars, the United States comes of age CORPORATIONS AND CITIES The United States Steel Corporation, which resulted from this merger in 1901, illustrated  a process under way for 30 years: the combination of independent industrial enterprises  into federated or centralized companies. Started during the Civil War, the trend gathered  momentum after the 1870s, as businessmen began to fear that overproduction would  lead to declining prices and falling profits. They realized that if they could control both  production and markets, they could bring competing firms into a single organization. The  "corporation" and the "trust" were developed to achieve these ends. Corporations, making available a deep reservoir of capital and giving business  enterprises permanent life and continuity of control, attracted investors both by their 
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  • Fall '10
  • PIETRZAK
  • United States Steel, enterprises permanent life, independent industrial enterprises, larger capital resources

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