“Like it or not, giant, vertically integrated corporate enterprises were the most efficient means of organizing the production and distribution of mass produced goods and services. Bringing together supply chains, production processes, and distribution channels in vertically integrated companies under centralized management dramatically reduced transaction costs, increased efficiencies and productivity, lowered the marginal cost of production and distribution, and, for the most part, lowered the price of goods and services to consumers, allowing the economy to flourish. While those at the top of the corporate pyramid disproportionately benefited from the increasing returns on investment, it’s only fair to acknowledge that the lives of millions of consumers also improved appreciably in industrialized nations.”

— Jeremy Rifkin

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism (2014)

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Jeremy Rifkin 18

American economist 1945

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“Getting to near zero marginal cost and nearly free goods and services is a function of advances in productivity. Productivity is “a measure of productive efficiency calculated as the ratio of what is produced to what is required to produce it.” If the cost of producing an additional good or service is nearly zero, that would be the optimum level of productivity.”

Jeremy Rifkin (1945) American economist

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism (2014)

“Part of America's industrial problems is the aim of its corporate managers. Most American executives think they are in the business to make money, rather than products or service…The Japanese corporate credo, on the other hand, is that a company should become the world's most efficient provider of whatever product and service it offers. Once it becomes the world leader and continues to offer good products, profits follow.”

W. Edwards Deming (1900–1993) American professor, author, and consultant

Source: Out Of The Crisis (1982), p. 99

“To the economically illiterate, if some company makes a million dollars in profit, this means that their products cost a million dollars more than they would have cost without profits. It never occurs to such people that these products might cost several million dollars more to produce if they were produced by enterprises operating without the incentives to be efficient created by the prospect of profits.”

Thomas Sowell (1930) American economist, social theorist, political philosopher and author

https://www.sun-sentinel.com/news/fl-xpm-2003-12-26-0312241220-story.html, South Florida Sun Sentinel, December 26, 2003
2000s

“The market remained the generator of demand for goods and services, but modern business enterprise took over the functions of coordinating flows of goods and services through existing processes of production and distribution, and of allocating funds and personnel for future production and distribution. As modern business enterprise acquired functions hitherto carried out by the market, it became the most powerful institution in the American economy and its managers the most influential group of economic decision makers. The rise of modern business enterprise in the United States, therefore, brought with it managerial capitalism.”

Alfred D. Chandler, Jr. (1918–2007) American historian

Source: The Visible Hand (1977), p. 1.

“Competition among capitalists requires that they constantly reduce the costs of production, by cutting wages or some other means, while increasing output through technological change and greater efficiency. The process, then, involves three intertwined aspects:
(1) capitalists control the means of production,
(2) laborers must sell their labor to survive because they lack access to the means of production, and
(3) there must be constant changes to increase production and cut costs.”

Ted C. Lewellen (1940–2006) American writer

Political Anthropology: An Introduction (2003), p. 213

“This is an age of mass production. In the mass production of materials a broad technique has been developed and applied to their distribution. In this age, too, there must be a technique for the mass distribution of ideas.”

Edward Bernays (1891–1995) American public relations consultant, marketing pioneer

"Manipulating Public Opinion", American Journal of Sociology 33 (May, 1928), p. 958–971

“The free market’s the best mechanism ever devised to put resources to their most efficient and productive use. … The government isn’t particularly good at that. But the market isn’t so good at making sure that the wealth that’s produced is being distributed fairly or wisely.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

To Barack Obama, as quoted in The Audacity of Hope: Thoughts on Reclaiming the American Dream (2006), Ch. 5
Context: The free market’s the best mechanism ever devised to put resources to their most efficient and productive use. … The government isn’t particularly good at that. But the market isn’t so good at making sure that the wealth that’s produced is being distributed fairly or wisely. Some of that wealth has to be plowed back into education, so that the next generation has a fair chance, and to maintain our infrastructure, and provide some sort of safety net for those who lose out in a market economy. And it just makes sense that those of us who’ve benefited most from the market should pay a bigger share. … When you get rid of the estate tax, you’re basically handing over command of the country’s resources to people who didn’t earn it. It’s like choosing the 2020 Olympic team by picking the children of all the winners at the 2000 Games.

“It is not our immediate task to “introduce” socialism, but only to bring social production and the distribution of products at once under the control of the Soviets of Workers’ Deputies.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

April Thesis (1917)

“But the net effect of increasing scale, centralization of capital, vertical integration and diversification within the corporate form of enterprise has been to replace the 'invisible hand' of the market by the 'visible hand' of the managers.”

David Harvey (1935) British anthropologist

Source: The Limits To Capital (2006 VERSO Edition), Chapter 5, Organization of Capitalist Production, p. 146

“In the 1950s, I proposed the survivor method of determining the efficient sizes of enterprises, and worked on delivered price systems, vertical integration, and similar topics.”

George Stigler (1911–1991) American economist

"George J. Stigler - Biographical," 1982

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