From Monopoly to Competition

From Monopoly to Competition

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Smith, George David Cambridge University Press, 1989
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IN THIS SUMMARY

In 1886, Charles Martin Hall discovered an inexpensive way to smelt aluminum, and the patent he immediately applied for gave him a legal monopoly on his invention. In 1889, Alfred E. Hunt, a Pittsburgh entrepreneur and chemist, gathered a small group of businessmen together to discuss the commercial potential of Hall's invention. They invested $20,000, and established Aluminum Company of America.