Аннотация

Teaching the U.S. and European economic history of the end of XIX — beginning of XX c. at Russian universities is still based upon Leninist model of «monopolistic stage of capitalism». It is highly necessary to use correct interpretation of profound changes in the American economy and business practice, given by distinguished business historians in the United States, and explain the origins of Big Business. The formation of giant corporations was, in fact, the organizational, managerial, and market revolution. Not only size, but also greater efficiency differed them from traditional entrepreneurial firms. Economies of scale and scope in mass production and distribution, horizontal combinations and vertical integration, export of goods and capital, stock emission and respective change of businessmen’s goals (service to society) marked the beginning of the corporate world.