Review of the book by Gerald F. Davis
Myron M. Miller
“The Vanishing American Corporation”
First, this is a book that should be read, and re-read, by all those currently involved in business, NGOs and government. Perhaps even more importantly, it should be read by all university faculty and the students of today and tomorrow. Dr. Davis’s description of what formed the corporations of America, and the dramatic forces that have changed them, provides an ideal background to the conceptions of all of us have about where our economy and jobs are headed in the future.
On a personal note, I have lived through many of the changes. When I graduated from college with an M.S. in the 1950’s, I joined Westinghouse Electric Corporation, along with 600 newly minted college graduates. We were gathered into a corporate “student training program.” One can only imagine that world, as we reflect on that era. All of us were trained to be corporate people, specializing in some corporate function. When we graduated, we all had a choice to join any of a number of corporations, for the good entry jobs were aplenty. That was the era that Dr. Davis describes so well.
Alas, there came a “perfect storm” of disruptive changes in corporate America, and these are very well described in his outstanding book. The development of conglomerates, where it was assumed that good executives could manage anything. The hostile takeovers of what had been excellent companies. The outsourcing that hollowed out much of American business, to the benefit of American consumers because of the lower prices, but were devastating to millions of employees in certain industries (appliances and television, for example). And then finally, the huge impact of technology on every aspect of American industry. I was personally affected negatively by all these disruptions. Fortunately, I was able to reinvent myself each time.
Dr. Davis’s description has “mapped” today’s business scene, to the benefit of all who are coping with the disruptions, and for those who will face them for years to come. Understanding the elements of this map is essential for those educating and providing for the jobs of the future. He ends with some advice regarding what a college student might do to best prepare for what will be an equally disrupted future. His advice is to earn a degree in the liberal arts, plus a good dose of the kinds of technology/computer skills, and that is a good start.
His last chapter raises the issue in a way that should be addressed – and debated - widely in the academic community, particularly those in schools of business. Beyond his conjecture regarding the preparation of college students, there remains the enormous challenge of what is to be done with those who don’t attend college, whether by choice in inability to qualify. I think this challenge might be part of Dr. Davis’s continuing study and writing – to the benefit of all of us.
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Interesting implications for the near future
