Capitalism: A Very Short Introduction (Very Short Introductions) by Fulcher James

Author:Fulcher, James [Fulcher, James]
Language: eng
Format: mobi, epub
Publisher: Oxford University Press
Published: 2004-05-12T16:00:00+00:00

America was the home of the ‘managerial revolution’ theory, discussed briefly in Chapter 3. Although this underestimated the continued power of owners, it has been argued convincingly by Alfred Chandler that the managers of American corporations were distinctively allowed to ‘get on with the job’ during the period of corporate growth, which largely resulted from their highly developed ‘organizational capabilities’. Chandler contrasted American management, with its use of profits to finance investment and growth, with the more personal and traditional ownership of British companies, which were more concerned with dividends to shareholders than long-term investment.

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