The Effects of Mergers on Industrial Concentration
探讨并购对产业集中度上升的贡献，聚焦于英国两次世界大战期间，回应Hannah和Kay对Hart观点的质疑，供读者自行判断。
THE contribution of mergers to the increase in industrial concentration raises important issues for economists, for economic historians and for governments' economic policies on mergers. While it is agreed that mergers have been very important in the UK since the I96os, there is no agreement on the size of this contribution in the inter-war period. In particular Drs. Hannah and Kay [2] do not accept the arguments of Hart [4]. The only thing to do is to explain, as dispassionately as possible, why I think they are wrong and leave the readers of this journal to judge for themselves.