... Property rights Vertical integration The emergence of management as an essential, a distinct and a leading institution is a pivotal event in social history. Despite its crucial importance, its high visibility and its spectacular rise, management is the least known and the least understood of our...

...William J. Baumol Studies the theory of vertical integration, and examines the benefits both to the firm and to society. Looks at the reasons which might precipitate an increase in integration: technical economies of scope; economics of internal production resulting from market failure; and pursuit...