Supply Quotes - page 23
When, however, not more than half that duration of time had elapsed, a small ray of light broke in upon my gloom. I was reading, accidentally, Marmontel's "Mémoires," and came to the passage which relates his father's death, the distressed position of the family, and the sudden inspiration by which he, then a mere boy, felt and made them feel that he would be everything to them-would supply the place of all that they had lost. A vivid conception of the scene and its feelings came over me, and I was moved to tears. From this moment my been grew lighter. The oppression of the thought that all feeling was dead within me, was gone. I was no longer hopeless: I was not a stock or a stone. I had still, it seemed, some of the material out of which all worth of character, and all capacity for happiness, are made.
John Stuart Mill
Like it or not, giant, vertically integrated corporate enterprises were the most efficient means of organizing the production and distribution of mass produced goods and services. Bringing together supply chains, production processes, and distribution channels in vertically integrated companies under centralized management dramatically reduced transaction costs, increased efficiencies and productivity, lowered the marginal cost of production and distribution, and, for the most part, lowered the price of goods and services to consumers, allowing the economy to flourish. While those at the top of the corporate pyramid disproportionately benefited from the increasing returns on investment, it's only fair to acknowledge that the lives of millions of consumers also improved appreciably in industrialized nations.
Jeremy Rifkin