The big screw-manufacturer able to provide some new labour-saving machinery, to advertise more effectively, or even to sell at a loss for a period of time, can drown his weaker competitors and take their trade.

The small tradesman can no longer hold his own in the fight with the universal provider, or the co-operative store.
But this destruction of the small business, though an essential factor in the movement, is not perhaps the most important aspect.

The industrial superiority of the large business over the small makes for the concentration both of small capitals and of business ability.

The monster millionaire, who owns the whole or the bulk of his great business, is after all a very rare specimen.

The typical business form of to-day is the joint stock company.