Chapter Summary: How The American Corporation Conquered America

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In chapter two How the American Corporation Conquered America implies corporation economy was evitable. According to author Gerald F. Davis “the corporate economy today seemed like an eternal feature in the mountain range that has been always there. However, the modern corporation emerged in a brief period around the turn of the century” (Davis 19). The 1800s lived limited in wealth, but corporations listed on the stock market faced no limits. Before 1890, most companies were a railroad and other infrastructure businesses often listed on the stock market in the United States. However, the companies consisted of a trust controlled by a “handful of families, not a public corporation” (Davis 19). Since 1987, most corporations included in the Dow Jones stock market remain steadfast after fifty-five years.

Therefore, large corporation expansion occurred before the twentieth century. Before …show more content…

The remark concludes men made banks, but they cannot control it. There was concern that financial institutions threatened to use their power to sway elections of political affairs of the nation. The emergency of corporate economy in the early twentieth century created new potential for economic control. However, the threat of financial institutions controlling economy dissolved. Due to the growing economy, new big industries originated, and mergers and consolidations of companies took place.
However, Derek Thompson author of the article “America’s Monopoly Problem” at Atlantic.com shares entrepreneurship has declined in each decade since the 1970s. The decrease in entrepreneurship is due to the successful large corporations. Once small businesses at one time thrived, now are replaced with corporate chains like Walmart. Large companies and consolidation include corporation monopoly and oligopoly. Hence monopoly and oligopoly are unavoidable today; it entails almost every aspect of our daily activity and quality of