Managerial capitalism 2.0

Authored by: John Quail

The Routledge Companion to Business History

Print publication date:  December  2016
Online publication date:  December  2016

Print ISBN: 9780415855563
eBook ISBN: 9780203736036
Adobe ISBN: 9781135007836


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“Managerial” capitalism is a name for the economic system of North America and Western Europe in the mid-twentieth century, a system in which production is concentrated in in the hands of large joint-stock companies. In many sectors of economic activity the classical entrepreneur has virtually disappeared… As a result (so a substantial body of writers have suggested), entrepreneurship in the modern corporation has been taken over by transcendent management, whose functions differ in kind from those of the traditional subordinate or “mere manager”. These people, it is argued, can wield considerable power without necessarily holding equity, sharing profits or carrying risks.

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