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ECONOMIC LIBERALIZATION: OPENNESS AND INTEGRATION — BUT WHAT KIND?

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In advanced industrial economies… managerial hierarchies have gained an increasing advantage over market mechanisms or multilateral negotiations in coordinating the flow of goods, monitoring economic activities, and allocating resources… By the time the United States entered World War I management decisions had replaced coordination by market forces in many of the most critical sectors of the economy. The result might be termed managerial capitalism. (Chandler and Daems, 1980: 5, 6)

SKU: 0810-90288629134 Category: Tag:

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By Edith T. Penrose

In advanced industrial economies… managerial hierarchies have gained an increasing advantage over market mechanisms or multilateral negotiations in coordinating the flow of goods, monitoring economic activities, and allocating resources… By the time the United States entered World War I management decisions had replaced coordination by market forces in many of the most critical sectors of the economy. The result might be termed managerial capitalism. (Chandler and Daems, 1980: 5, 6)

page: 30 – 44
Prometheus: Critical Studies in Innovation
Volume 11, Issue 1

SKU: 0810-90288629134

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