“This pioneer work, written for both the professional economist and the businessman, has become a classic in its field. It is a detailed examination of the structure of the large business corporation in relation to its actual economic functioning. Because Gordon views the corporation not as an external institution but as organized human activity, his emphasis is on the personal and volitional elements in leadership, or how businessmen actually shape their practices. His analysis is based on a formidable mass of case material and statistical data”

— Robert Aaron Gordon

Abstract
Business Leadership in the Large Corporation (1945)

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Robert Aaron Gordon 12

American economist 1908–1978

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“Meetings are an addictive, highly self-indulgent activity that corporations and other large organizations habitually engage in only because they cannot actually masturbate.”

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“Ken also identified the corporation, not “the market,” as the defining institution of modern economic activity, developing these and related themes both in his teaching and in such widely celebrated books as American Capitalism (1952) and The New Industrial State (1967). But his interest in these ideas persisted throughout his life. The central importance of the corporation, and the fear that government was no longer able to provide an adequate countervailing force against corporate influence exerted both legally and otherwise, was the subject of his last book, The Economics of Innocent Fraud”

Amartya Sen (1933) Indian economist

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Stephen A. Marglin, Richard Parker, Amartya Sen, and Benjamin M. Friedman, “John Kenneth Galbraith”, Harvard Gazette (February 7, 2008)
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“The rise of the modern corporation has brought a concentration of economic power which can compete on equal terms with the modern state - economic power versus political power, each strong in its own field. The state seeks in some aspects to regulate the corporation, while the corporation, steadily becoming more powerful, makes every effort to avoid such regulation… The future may see the economic organism, now typified by the corporation, not only on an equal plane with the state, but possibly even superseding it as the dominant form of social organization. The law of corporations, accordingly, might well be considered as a potential constitutional law for the new economic state, while business practice is increasingly assuming the aspect of economic statesmanship.”

Adolf A. Berle (1895–1971) American diplomat

Source: The Modern Corporation and Private Property. 1932/1967, p. 357 (1967, p. 313)

“In spite of assigning little influence of economists' preachings on actual public policy, I do not believe that economists' influence is negligible. The reconciliation of these views lies in the fact that economists are scientists as well as preachers. Our science seeks to understand how economic institutions and economic systems work, and no informed person can deny that we have made much progress in this work.”

George Stigler (1911–1991) American economist

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“CONSIDERABLE attention has recently been devoted to understanding behavior in large organizational systems. Although some of this work has been based on research, it has more typically been general theorizing with little support from research data. Our interest in examining complex organizations is to study more systematically and empirically their internal functioning in relation to the demands of the external environment on the organization and the ability of the organization to cope effectively with these demands, contributing to a theory of the functioning of large organizations based on empirical research.”

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“Economism is the view that the economy is the most important part of society and that the other dimensions such as politics and education should serve it. Economism has become the ruling ideology, not because of claims of economists, but because of the decisions of political leaders, financiers, corporate leaders, and the general public.”

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“At the time of its initial publication, Public Administration helped to define this field of study and practice by introducing two major new emphases: an orientation toward human behavior and human relations in organizations, and an emphasis on the interaction between administration, politics, and policy. Without neglecting more traditional concerns with organization structure, Simon, Thompson, and Smithburg viewed administration in its behavioral and political contexts. The viewpoints they express still are at the center of public administration's concerns.”

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“The social system is, thus, a very complex entity. As an organization of human interests, activities and commitments, it must be viewed as a system and in functional perspective. This is the key to its lines of organization, its modes of differentiation, and its integration. Such a system may be considered as both structure and process, in different aspects and for different scientific purposes. Structurally, we have suggested that there is a double basis for systematizing differentiation and variation : that internal to the primary social system itself and that involved in its relations to its primary environments, as analyzed with reference to the general system of action. Processually, the categories of analysis must follow from and integrate with those of structure. I suggest that, given the central position language as definitive of human society, the more differentiated and specialized symbolic media of interchange constitute the master scheme for the systematic analysis of social system processes.”

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“During and after World War II, a large number of academic economists were exposed directly to business life, and had more or less extensive opportunities to observe how decisions were actually made in business organizations. Moreover, those who became active in the development of the new management science were faced with the necessity of developing decision-making procedures that could actually be applied in practical situations. Surely these trends would be conducive to moving the basic assumptions of economic rationality in the direction of greater realism.”

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“[The corporation is an invaluable auxiliary to the conduct of foreign affairs by the Government, and] has become an international as well as a national instrument. It is a mighty institution which thus far has not become, and has manifested no great desire to become, an independent political force. In international life it is an experiment in non-national organization, pledged only to discharge certain economic functions.”

Adolf A. Berle (1895–1971) American diplomat

163 ; as cited in Prashker (1954)
The 20th century capitalist revolution. 1954

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