ABSTRACT
Industrial concentration is only partly represented by a concentration of the technical units of production. The large scale plant, either evolving out of the progress of technical inventions and discoveries which revolutionize the old structure of the industrial unit, or being connected from the beginning with certain industries, as in many of the so-called "new" industries, may not suffice to exploit to the full those opportunities for mass distribution created by the widening of markets. Combination of undertakings in an associative form or as an amalgamation may be deliberately directed towards the formation of quasi-monopoly. Horizontal combination of undertakings leads to industrial concentration in two ways: firstly, by reducing the number of competing firms, and secondly, in many cases, though of course to a varying degree, to a concentration of the units of production within the amalgamation, and therefore logically, though not always in practice, within the respective branch of industry.
