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The Development of Large Scale Enterprise in Australia, 1910-64

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  • Simon Ville
  • D. T. Merrett

Abstract

This essay explores the development of large scale enterprise in Australia, an economy in which resource industries were unusually important and with a very small domestic market. Using asset size as a yardstick, the authors construct a series of the 100 largest firms operating in the years 1910, 1930, 1952 and 1964. These lists allow the identification of firms by industry and whether they were foreign-owned. Cross-country comparisons are also made. Further, the authors discuss the more qualitative aspects of Australian large scale enterprise in the context of whether these firms approximated the competitive capitalism of the United States or the family capitalism of Britain. They concluded that Australian firms displayed little of the dynamism of the leading firms in the United States. Protectionist government policies explain part of this behavioural trait.

Suggested Citation

  • Simon Ville & D. T. Merrett, 2000. "The Development of Large Scale Enterprise in Australia, 1910-64," Business History, Taylor & Francis Journals, vol. 42(3), pages 13-46.
    • Handle: RePEc:taf:bushst:v:42:y:2000:i:3:p:13-46
    DOI: 10.1080/00076790000000265
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    Cited by:

    1. Ville, Simon & Merrett, David, 2006. "A New Macroeconomic Time Series: Business Profitability in Twentieth-Century Australia," Economics Working Papers wp06-14, School of Economics, University of Wollongong, NSW, Australia.
    2. Grant Fleming, 2003. "Corporate Governance in Australia," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 10(3), pages 195-212.
    3. Grant Fleming & Frank Liu & David Merrett & Simon Ville, 2021. "The Australian corporate bond market before credit ratings, 1915-83," CEH Discussion Papers 03, Centre for Economic History, Research School of Economics, Australian National University.

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