Question

How did new business strucutres such as corporations,pools,trusts, and holding companies lead to growth of an industrialized economy? What was their impact on consumers and workers

Answer 1

Corporations, pools, trusts, holding companies, and so on, help grow an industrialized economy by putting together the financial and physical capital, and also, the labor power, of several people, into one single joint venture.

The advantage of a corporation over individuals is precisely that union of economic forces: capital and labor. This helps economic growth because a corporation is able to invest more resources into costlier and more impactful economic activities.