The Rise and Fall, and Rise and Fall Again
Family-controlled pyramidal business groups were important in Canada early in the twentieth century, amid rapid catch-up industrialization, but largely gave way to widely held freestanding firms by mid-century. In the 1970s and early 1980s—an era of high inflation, financial reversal, unprecedented state intervention, and explicit emulation of continental European institutions—pyramidal groups abruptly regained prominence. The largest of these were politically well-connected and highly leveraged. The two largest collapsed in the early 1990s in a recession characterized by very high real interest rates. The smaller groups that survived were more vertically integrated and less diversified at the time. Widely held freestanding firms and Anglo-Saxon concepts of the role of the state soon regained predominance.
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
If you think you should have access to this title, please contact your librarian.