The Wealth and Income of the People of the United States

By Willford Isbell King | Go to book overview

CHAPTER VIII
THE SHARE OF THE CORPORATION IN THE TOTAL NATIONAL PRODUCT

ONE of the striking features of the evolution of modern industrial society has been the development of the corporation. The only statistics in this field are of such very recent origin that, except for the last few years, no quantitative study of the growth of this form of organization can be presented which can lay any claim to accuracy. From the United States Census, we find that, during the decade 1899- 1909, the fraction of the mineral output produced by corporation owned mines increased from about 85.0 to 92.2 per cent, while, in the manufacturing field, during the same period, corporations increased their share of the value added by manufactures from approximately 63.3 to 77.2 per cent. We know that transportation by water, rail, and wire has been mainly carried on by corporations for several decades. In commercial enterprises, the general impression is that the stock company is gradually playing a more important part than formerly. Only in the field of agriculture, does the individual entrepreneur--the man who controls and directs his own business--still remain dominant and almost without corporate

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