- Paperback: 624 pages
- Publisher: Belknap Press; unknown edition (January 1, 1993)
- Language: English
- ISBN-10: 0674940520
- ISBN-13: 978-0674940529
- Product Dimensions: 6.3 x 1.2 x 9.2 inches
- Shipping Weight: 2 pounds (View shipping rates and policies)
- Average Customer Review: 4.5 out of 5 stars See all reviews (13 customer reviews)
- Amazon Best Sellers Rank: #463,494 in Books (See Top 100 in Books)
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The Visible Hand: The Managerial Revolution in American Business unknown Edition
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The main problem with The Visible Hand is that its theoretical analysis is limited to the more obvious common sense insights of economics. Chandler aims at contrasting the Invisible Hand of markets with the idea of conscious planning in organization. While there is much merit in this approach, there is more to the analysis of markets and organizations that you find in this book. Economists have discovered many subtle differences and similarities between markets and organizations, more than you find in The Visible Hand. Consequently, the quality of its analysis varies.
I agree with the emphasis that Chandler places on accounting methods. However, Chandler sees finance capitalism as phase, which gave way to managerial capitalism. I disagree with Chandler on so called managerial capitalism. He underestimates the importance of financial factors both between and within `managed' organizations, and misconstrues the nature of private sector bureaucracies. There are important differences between private and public bureaucracies of which Chandler seems unaware. Furthermore, Chandler does not fully appreciate the role of public policy in shaping modern American corporate organization.Read more ›
Chandler begins with a discussion of economic organization in the USA in the early 19th century, stressing that even with national expansion and improvement of waterborne transportation, the economy remained largely Smithian in nature. Chandler is something of a technological determinist.Read more ›
The book is divided into the following sections:
--The traditional processes of production and distribution (plantations, textile mills, factories, etc.)
--The revolution in transportation and communication
--The revolution in distribution and production
--The integration of mass production with mass distribution
--The management and growth of the modern industrial enterprise
It should be noted that Alfred Chandler, Jr. won the Pulitzer and Bancroft awards for this book.
Most Recent Customer Reviews
An essential read for anyone interested in the pluses and minuses of America's version of market capitalism.Published 2 months ago by denny
Great book, very detailed and informative analysis of the subject.Published 5 months ago by Amazon Customer
Covers the transition from small firms run by individuals or partners to large business enterprises. Read morePublished on June 13, 2014 by Paul & DJ
Thank you very much, I received the book brand new like you mentioned. I will be recommending my friends and family to buy from you in the future.Published on January 10, 2014 by darebillionaire
Allows one to follow a step by step history of the growth of business practice with major examples of pioneering American companies.Published on January 12, 2013 by Amazonjohn
Some books are worth reading because they are grand and insightful, even if the writing is a bit stale and dry. Read morePublished on January 17, 2011 by T. Graczewski
This book discusses a variant of the "theory of the firm" when applied to monopolistic competition. In a nutshell, how and why does a corporation exist when there are no internal... Read morePublished on March 1, 2008 by A_2007_reader