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Managerial Capitalism in Retrospect
     

Managerial Capitalism in Retrospect

by R. Marris, Robin Marris (Editor)
 

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This is an updated and edited version of Robin Marris' classic The Economic Theory of Managerial Capitalism (1964). This was widely recognized as pathbreaking as it was the first attempt by a professional economist to make a formal theory of the behavior and growth of a large-scale "managerial" corporation based on a realistic assessment of the sociological

Overview

This is an updated and edited version of Robin Marris' classic The Economic Theory of Managerial Capitalism (1964). This was widely recognized as pathbreaking as it was the first attempt by a professional economist to make a formal theory of the behavior and growth of a large-scale "managerial" corporation based on a realistic assessment of the sociological and institutional environment. The model determined the long run growth rates of individual firms on the basis of the financial and market environment on the one hand, and the needs, interest and aspirations of both managers and shareholders on the other. Managers in particular were shown to trade desire for growth against fear of takeover. These then novel important features of modern capitalism--mergers, takeovers and executive bonuses and the relationship between the growth of firms and the growth of the economy--have become increasingly topical. The new book contains the original introduction along with reworked and updated coverage of the theoretical model, along with completely new chapters both of micro-theory and assessing and responding to the debate which the book created.

Editorial Reviews

From the Publisher

'In this brilliant book , Mr Marris is laying siege to one of the most fundamental assumptions of economics...This is a very important book. I have elsewhere made clear my own debt to Mr Marris. Many others are certain to discover that he repays the most careful study.' - John Kenneth Galbraith

Product Details

ISBN-13:
9780312215781
Publisher:
Palgrave Macmillan UK
Publication date:
01/11/1999
Edition description:
1998
Pages:
216
Product dimensions:
5.51(w) x 8.50(h) x 0.02(d)

Meet the Author

Robin Marris is Professor Emeritus of Economics at the University of London.

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