The Coming of Post-Industrial Society by Daniel Bell

Author:Daniel Bell [Bell, Daniel]
Language: eng
Format: epub
ISBN: 0465012817
Publisher: Perseus Book Group-A
Published: 1976-07-21T04:00:00+00:00

The economizing system of each corporation locks with each other to create a social system. Earnings per share of common stock becomes the balance wheel around which the system turns. If the earnings of a firm drop, it may find it difficult to attract capital, or may have to pay more for capital vis-à-vis other firms. Thus, the allocation of capital in the economy follows the same principle as it does within the corporation. Locked thus into competition, the degree of freedom of any single corporation to break away from this measuring rod—the rate of return on investment—is limited. Any change in the system has to be a change in the entire system.

Profitability and productivity, thus, are the indices of corporate success. They are the tests of meeting the demands of the marketplace and the demand for the efficient distribution of resources within the firm and between members of the society. This is the rationale for the economizing mode for the corporation, as for the economy.

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