The Visible Hand
From AwardAnnals
| Book: | The Visible Hand: The Managerial Revolution in American Business |
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| Author: | Alfred Dupont Chandler, Jr. |
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| Publisher: | Belknap Press |
The managerial revolution, presented here with force and conviction, is the story of how the visible hand of management replaced what Adam Smith called the invisible hand of market forces. Chandler shows that the fundamental shift toward managers running large enterprises exerted a far greater influence in determining size and concentration in American industry than other factors so often cited as critical: the quality of entrepreneurship, the availability of capital, or public policy.
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