Industrialization Beyond Britain: State, Finance, and Management
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State Intervention and Industrialization
Outside Britain, industrialization was encouraged by state intervention through protectionist economic policies. These policies imposed tariffs and customs duties, which made importation and exportation more difficult. The state carried out activities to promote railways, creating appropriate legislation to encourage mergers.
Transformation in Financing Companies
British industrialization developed thanks to entrepreneurs who invested in their businesses. However, in Europe and the USA, financing methods included:
- Banks investing in companies.
- The company limited by shares.
- Mergers, trusts, and cartels.
Trusts and Cartels
Trusts and cartels are business alliances that prevent competition and reap benefits by... Continue reading "Industrialization Beyond Britain: State, Finance, and Management" »