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The Visible Hand
624 pages, 1993
The role of big business and its managers in the development of modern capitalism is delineated in this book. Alfred Chandler, Jr., the distinguished business historian, sets forth the reasons for the dominance of big business in transportation and communications, as well as the central sectors of production and distribution.
The managerial revolution, presented here with force and conviction, is the story of how management replaced market forces as the most important factor determining size and concentration in American industry. Chandler shows that public policy was less critical than entrepreneurship or capital availability in determining the U.S.'s economic growth rate.
Alfred D. Chandler Jr. explores the evolution of modern business in 'The Visible Hand'. He shows how the shift from small-scale enterprises to large corporations has transformed the economic landscape. This book will help you understand the roots of today's corporate world.
Chandler emphasizes the importance of professional managers in the growth of large corporations. He argues that their strategic decisions and administrative coordination were key to the success of these businesses. If you're a manager, you'll find valuable insights into your role in shaping your organization.
The book's title, 'The Visible Hand', refers to the active role of management in guiding economic activity. This contrasts with Adam Smith's 'invisible hand' of market forces. Chandler's research will make you see the economy in a new light.
Chandler provides a detailed historical analysis of business development from the 19th to the 20th century. He takes you on a journey through the industrial revolution, the rise of railroads, and the growth of consumer goods industries. History buffs and business enthusiasts alike will enjoy this deep dive into the past.
Finally, 'The Visible Hand' looks at how the rise of big business has shaped society. From changing labor patterns to influencing government policies, Chandler shows how corporations have left their mark. This book will make you think about the broader implications of business on our lives.
