The Use of the Term in Economics

Fritz Machlup
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Fritz Machlup: New York University

Chapter 1 in A History of Thought on Economic Integration, 1977, pp 3-12 from Palgrave Macmillan

Abstract: Abstract In economics the word was first employed in industrial organisation to refer to combinations of business firms through agreements, cartels, concerns, trusts, and mergers — horizontal integration referring to combinations of competitors, vertical integration to combinations of suppliers with customers.1 In the sense of combining separate economies into larger economic regions the word integration has a very short history.

Keywords: Foreign Trade; Economic Integration; Custom Union; Horizontal Integration; Marshall Plan (search for similar items in EconPapers)
Date: 1977
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DOI: 10.1007/978-1-349-03171-9_1

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