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- W4233309212 abstract "In Mr. Hopkinson's view, the dangerous influence of large industrial concerns is not offset by any contribution to the happiness and prosperity of the community. The existence of twenty separate firms engaged in a particular branch of industry means twenty sources of energy and enterprise: their amalgamation into one large unit eliminates nineteen of these sources. The only way in which a nation can preserve a standard of living higher than that of others is by continuing to produce goods of higher quality or goods which the others cannot produce at all: tariffs and embargoes are merely temporary expedients. It follows therefore that competition from countries with a lower standard of life can be met only by frequent changes in the nature, form or design of the goods produced; but it is just this condition which the large organisation finds most difficult to meet, owing to the inertia resulting from its very size. Again, very large firms have the power to stimulate markets by intensive advertising and hire-purchase schemes, but by thus compressing the purchasing power of a life-time into a few years, an unhealthy state of the market is induced, and a temporary advantage may be wiped out by a subsequent collapse. Finally, the estimate that 44 per cent of total factory production in Great Britain is in the hands of firms employing less than two hundred people indicates the important part which the small concerns play in industrial life: their contribution to the national exchequer is, no doubt, proportionately great." @default.
- W4233309212 created "2022-05-12" @default.
- W4233309212 date "1932-11-01" @default.
- W4233309212 modified "2023-09-27" @default.
- W4233309212 title "Defects of Large Industrial Units" @default.
- W4233309212 doi "https://doi.org/10.1038/130804b0" @default.
- W4233309212 hasPublicationYear "1932" @default.
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