The Economic Organisation of England An Outline History
The Economic Organisation of England An Outline History
W J William James Ashley
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But when one reflects that most of these must be adult males, usually with several persons dependent upon them, even this minimising estimate shows how far industrial capital is from being owned exclusively by millionaires. The industrial middle class now takes new forms ; it now consists largely of officials of companies and holders of stock. But any one who has walked through the residential suburbs of our great manufacturing cities knows that it shows no sign of disappearing, in spite of the... pro- phecies of Marx and his school. It may be doubted whether it was ever relatively stronger than to-day. The second characteristic of capitalistic evolution, especially in the last quarter of a century, has been Integration. This has been peculiarly marked in the iron, steel, engineering, and shipbuilding group of trades. By Integration is meant the bringing under a single business control of a whole series of operations contributing to a final result which had been previously conducted entirely apart : for instance, of the whole of the operations involved in the making and employment of steel, from the mining of the ore and coal, through the blast-furnace and steel plant up to the production of hardware, machinery, or ships.
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