ABSTRACT
The path of industry evolution proposed by Josef Steindl in Maturity and Stagnation in American Capitalism (1976) has been explored and clarified from a theoretical standpoint in recent literature (Shapiro 1981, 1988; Levine 1975). Evaluating Steindl’s ideas against the backdrop provided by a specific industry offers yet another perspective, the subject of this chapter. The century-long process of concentration, break-up, and reconcentration of the meat packing industry is used as a case study of the applicability of the concepts of absolute concentration and mature capitalism introduced in Maturity and Stagnation.
