Why did the number of corporations grow dramatically after 1870?

1 Answer
Apr 20, 2017

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People such as Schumpeter and Marx argue that the theory of concentration of the capital explains why such corporations emerged, they claimed that success in capitalism bring concentration of one sector in the hands of a few.

Individuals such as the Rockefellers, the Schwabs, the Mellons, the Astors or others were the actors of such trusts that the Sherman Act of 1890 had attempted to break. The size if corportations enabled them to have lower costs of production and squeezed out competition of smaller companies.

During the Gilded Age what were the businessmen who dominated industries and amassed huge personal...