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SOC 103 Lecture Notes - United Fruit Company, Multinational Corporation, Scientific Management

Course Code
SOC 103
Kelly Train

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Lecture#5 Living in Capitalist Societies
July 9, 2012
Continuation of last week’s lecture, and then new lecture
- The first stock exchange company in Canada was the Hudson’s Bay Company
- Oldest company in Canada 1650
- Was underdeveloped because of colonization, colonies were set up in a way that the
everyone depended on the land for everything
- We were known for 4 things fur, lumber, fish, minerals
1. The growth of corporate concentration
- Talking about 1880 present
- Until the 1880s, there were no anti-monopoly laws
o Started with the gas and oil sector
o Company was called Standard Oil (in the US context) John Rockefeller
o At the turn of the century, he was depicted as the devil in every political cartoon
o Canadian ESSO
o He owned the oil refineries too, and the oil wells. He made money at every level of
production, monopolized the supply, the manufacturing, and the retail aspects.
- Same thing happened with groceries/produce
o Used to be called United Fruit Company
o Dole, Delmonte, Chickita
- This is what the market looks like today all monopolies
- Mergers
o Horizontal purchase other companies that do what you do, buy out the
Victoria Secret-La Senza
TD-Canada Trust
Future shop-Best Buy
CIBC-Wood Gundy-Merrill Lynch
o Vertical
All franchises
o Conglomerate also known as transnational or multinational corporation
Companies that monopolize the marketplace, not only a particular sector
Procter and Gamble
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