If anyone could help me with the following statement, I will appreciate it very much. Thank you for your time and commitment.
The statement is:
"The reorganization and consolidation of business structures was more responsible for late nineteenth-century American industrialization than was the development of new technologies."
I do completely understand the above statement and I know how to develop it in a high-level essay but the only problem that I'm having is with the phrase "business structures". Is it related with the horizontal and the vertical integration introduced by Carnegie and Rockefeller between 1865-1900?