Tuesday, July 28, 2015

WWII and big corporations

The war thus made the nation's biggest corporations bigger, and considerably richer as well. The pattern of military contracting intensified the tendency toward oligopoly in large sectors of American industry. Firms with fewer than one hundred employees accounted for 26 percent of total manufacturing employment in 1939 but only 19 percent by the war's end.
David M. Kennedy, Freedom from Fear: The American People in Depression and War, 1929-1945 (New York: Oxford Univ. Press, 1999), ch. 18

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