Annals of the University of Petrosani: Economics (Oct 2015)
THE CONCENTRATION OF THE CAPITAL IN THE COAL MINING INDUSTRY FROM JIU VALLEY IN THE 30s OF THE XX CENTURY
Abstract
After World War I as a result of the process of "nationalization" of the existing mining companies, of the application of the Law on the commercialization of the economic enterprises of the State of 7 June 1925, of the general trend of creating new industrial companies, in the Jiu Valley will continue operation many mining companies, called upon to exploit the rich coal deposit existing in the basement of the region. To the recovery period and then to momentum of the world economy during the third decade of the twentieth century, follows, however in a specific economic cyclicity, the period of economic crisis of the years 1929-1933. By crisis is also struck still from years 1926-1927, mining and quarrying of coal, and consequently the coal mining from the Jiu Valley, and one of the levers by which those who have led the destinies of this economic complex tried to pull the region out of crisis was the policy of rationalization, through which was aimed, primarily, a decrease in material costs through a better organization of work and through a renewal of the fixed capital based on the new technique that allowed an increase in labor productivity. Not in the least, it is accented in this period the concentration process of production and capital, either through mergers or by seizing small mining companies or undertakings, whether by purchase of land in order to form large mining complexes.
