Managerial Revolution Quotes

Just as we seldom realize that we are growing old until we are already old, so do the contemporary actors in a major social change seldom realize that society is changing until the change has already come.

The promulgation of consumerism also coincided with the beginnings of the managerial revolution, which was, especially at first, largely an attack on pupular knowledge...the new bureaucratically organized corporations and their 'scientific management' sought as far as possible to literally turn workers into extensions of the machinery, their very move predetermined by someone else.

As the Court in Howey determined, an investment contract requires (1) an investment of money (2) in a common enterprise (3) with a reasonable expectation of profits (4) to be derived from the entrepreneurial or managerial efforts of others. All elements must be met for a security to be found, thereby implicating securities laws and regulations.

Marx’s original definition of “bourgeoisie” referred to ownership of the means of production. One of the characteristics of the modern world is that this form of property has become vastly democratized through stock ownership and pension plans. Even if one does not possess large amounts of capital, working in a managerial capacity or profession often grants one a very different kind of social status and outlook from a wage earner or low-skilled worker.

Marx and Engels, in their giddy enthusiasm for the industrial revolutions of their day, [...] were wrong to predict that market competition would compel factory owners to-go on with mechanization anyway. If it didn't happen, it can only be because market competition is not, in fact, as essential to the nature of capitalism as they had assumed. If nothing else, the current form of capitalism, where much of the competition seems to take the form of internal marketing within the bureaucratic structures of large semi-monopolistic enterprises, would presumably have come as a complete surprise to them.