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- Title
An Institutional Analysis of Corporate Powers.
- Authors
Dagger, William M.
- Abstract
As institutional economists, skeptical descendants of the German Historical School, it is economists' duty to describe what is really going on in the U.S. economy. What is going on in the U.S. economy at the close of the twentieth century is the development of corporate hegemony. That is, one institution, the giant corporation, is dominating the economy. Corporate enterprise is now a system wherein a relatively small number of giant corporations compete against a relatively large number of small enterprises, and against the rest. The small enterprises may be more flexible and innovative, but the large ones have been able to more than make up for it with sheer size and power. The drive for power leads to a growth in size, while the growth in size causes a need for more power to hold the larger organization together and to make it manageable. Aided by their corporate culture, managers have learned to cheerfully work harder and faster and to work as a team for the higher good. Managers also gladly give their conglomerate employers their evening time and weekends. This surplus time is given with no overtime pay. Of course, this exploitation, this rich source of more profit, is not seen as such by the managerial class. Unlike the working class, which originally saw the speed up for what it really was, the managerial class is far more sophisticated.
- Subjects
UNITED States; CORPORATIONS; AMERICAN corporations; LINE &; staff organization; UNITED States economy; CORPORATE culture; CORPORATE power; SOCIAL control; MANAGEMENT styles; WORKING class
- Publication
Journal of Economic Issues (Association for Evolutionary Economics), 1988, Vol 22, Issue 1, p79
- ISSN
0021-3624
- Publication type
Article
- DOI
10.1080/00213624.1988.11504734