Monopoly or oligopoly exists when a very small number of huge enterprises dominate a marketplace. The chartered companies established in Europe in the late 16th century and continuing through to the end of the 19th were privatised monopoly companies, which allowed shareholding from outside wealthy individuals. The old feudal system had also created monopolies through land use, in feudal land tenure systems. Colonies created monopolies for the invading country. A colonial power had monopoly importing and exporting rights.

Industrialisation during the 19th century historically changed the world for all the people living in France Holland the UK and the USA; by the end of the century city living and industrial work had become the new normal. Japan and Germany followed in the 2nd half of the century. At the beginning in 1800, the world’s populations had been predominantly rural: by 1900 one hundred years later the few wealthy independent European and American nations had become mainly urban. The processes of manufacture and transport had vitally altered everyone’s lives. Even the understanding of time itself had been altered.