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Socializing Capital: The Rise of the Large Industrial Corporation in America
     

Socializing Capital: The Rise of the Large Industrial Corporation in America

by William G. Roy
 

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ISBN-10: 069101034X

ISBN-13: 9780691010342

Pub. Date: 07/01/1999

Publisher: Princeton University Press

Ever since Adolph Berle and Gardiner Means wrote their classic 1932 analysis of the American corporation, The Modern Corporation and Private Property, social scientists have been intrigued and challenged by the evolution of this crucial part of American social and economic life. Here William Roy conducts a historical inquiry into the rise of the large

Overview

Ever since Adolph Berle and Gardiner Means wrote their classic 1932 analysis of the American corporation, The Modern Corporation and Private Property, social scientists have been intrigued and challenged by the evolution of this crucial part of American social and economic life. Here William Roy conducts a historical inquiry into the rise of the large publicly traded American corporation. Departing from the received wisdom, which sees the big, vertically integrated corporation as the result of technological development and market growth that required greater efficiency in larger scale firms, Roy focuses on political, social, and institutional processes governed by the dynamics of power.

The author shows how the corporation started as a quasi-public device used by governments to create and administer public services like turnpikes and canals and then how it germinated within a system of stock markets, brokerage houses, and investment banks into a mechanism for the organization of railroads. Finally, and most particularly, he analyzes its flowering into the realm of manufacturing, when at the turn of this century, many of the same giants that still dominate the American economic landscape were created. Thus, the corporation altered manufacturing entities so that they were each owned by many people instead of by single individuals as had previously been the case.

Product Details

ISBN-13:
9780691010342
Publisher:
Princeton University Press
Publication date:
07/01/1999
Pages:
360
Product dimensions:
6.10(w) x 9.20(h) x 0.90(d)

Related Subjects

Table of Contents

List of Figures
List of Tables
Preface
Ch. 1Introduction3
Ch. 2A Quantitative Test of Efficiency Theory21
Ch. 3The Corporation as Public and Private Enterprise41
Ch. 4Railroads: The Corporation's Institutional Wellspring78
Ch. 5Auxiliary Institutions: The Stock Market, Investment Banking, and Brokers115
Ch. 6Statutory Corporate Law, 1880-1913144
Ch. 7Prelude to a Revolution176
Ch. 8American Industry Incorporates221
Ch. 9Conclusion: A Political Sociology of the Large Corporation259
Notes287
References301
Index319

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