Alfred Chandler. The Visible Hand and Scale and Scope

Get capital. Sink it into technology. Buy distribution. Refine production.

Horizontal integration (bad) absorb your competition (scope)

Vertical integration (good) control your costs (scale)

Scale is the size of your production unit
Scope is the range of investments you have in different fields and the intellectual capital you have, and what else you can do with it.

Economies of scale are running the plant at full steam to produce the lowest cost/unit. 60% of the market must vertically integrate to ensure full running daily.

America's managerial capitalism, Britain's personal capitalism and Germany's cooperative capitalism.