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Chandler's Claim for the Superiority of Managerial Capitalism - Article Example

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The author of the paper titled "Chandler's Claim for the Superiority of Managerial Capitalism" discusses and analizes Chandler's claim for the superiority of 'managerial capitalism' that is specific to a particular time and place and cannot be generalized…
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Chandlers Claim for the Superiority of Managerial Capitalism
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Download file to see previous pages The adaptation was efficiency-driven: rapidly expanding markets and science-based technologies spawned commercial opportunities which could be seized only by creating business institutions capable of handling high-volume production and distribution. The response came in the form of new "organizational capabilities" ("administrative coordination," as Chandler describes it in The Visible Hand, 1977).

In Scale and Scope, Chandler refines and broadens this analytical apparatus. To bring "the modem industrial enterprise into being," a "three-pronged investment in manufacturing, marketing, and management" proved essential, to "consolidate production facilities into plants of optimal size, establish the necessary marketing networks, and recruit the managerial organization." Without it, economies of scale and scope in production" would have been unattainable, but with it "cost per unit dropped more quickly as the volume of materials being processed increased," and "economies of joint production or distribution" of more than one single product in one market area were realized. Chandler extends his analysis in another, more significant way. The "competitive managerial capitalism" of the United States is compared with "cooperative managerial capitalism" in Germany and "personal capitalism" in Great Britain. The case studies are the 200 largest industrial firms in the three nations from 1880 to the 1940s. For these 600 firms, data on assets and product lines are presented in a 101-page appendix that places all students of economic and business history deeply in Chandler's debt.

The rise of the large corporation and the displacement of price-competitive markets by the constrained rivalry of oligopolists is not exactly virgin territory. Economists and historians have explored it, and alternative hypotheses readily come to mind. One is that new technologies and markets open a door of opportunity, and profit-seekers use every means at their disposal to be first through and slam it closed against all followers.  ...Download file to see next pagesRead More
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