Davis (1963) compares U.S. and British industrialization. What does he

Davis (1963) compares U.S. and British industrialization. What does he note in each country during industrialization?

(a) A rise in the number of giant banks in both countries
(b) A rise in the number of small banks in the U.S. but a rise in the number of giant banks in
Great Britain
(c) A rise in the number of small banks in Great Britain but a rise in the number of giant banks in
the U.S.
(d) A decrease in capital accumulation because of a small number of free banks

ANSWER

(b)