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The role of large-scale business enterprise—big business and its managers—during the formative years of modern capitalism (from the 1850s until the 1920s) is delineated in this pathmarking book. Alfred Chandler, Jr., the distinguished business historian, sets forth the reasons for the dominance of big business in American transportation, communications, and the central sectors of production and distribution.
The role of large-scale business enterprise—big business and its managers—during the formative years of modern capitalism (from the 1850s until the 1920s) is delineated in this pathmarking book. Alfred Chandler, Jr., the distinguished business historian, sets forth the reasons for the dominance of big business in American transportation, communications, and the central sectors of production and distribution. The managerial revolution, presented here with force and conviction, is the story of how the visible hand of management replaced what Adam Smith called the “invisible hand” of market forces. Chandler shows that the fundamental shift toward managers running large enterprises exerted a far greater influence in determining size and concentration in American industry than other factors so often cited as critical: the quality of entrepreneurship, the availability of capital, or public policy.
The role of large-scale business enterprise—big business and its managers—during the formative years of modern capitalism (from the 1850s until the 1920s) is delineated in this pathmarking book. Alfred Chandler, Jr., the distinguished business historian, sets forth the reasons for the dominance of big business in American transportation, communications, and the central sectors of production and distribution. The managerial revolution, presented here with force and conviction, is the story of how the visible hand of management replaced what Adam Smith called the “invisible hand” of market forces. Chandler shows that the fundamental shift toward managers running large enterprises exerted a far greater influence in determining size and concentration in American industry than other factors so often cited as critical: the quality of entrepreneurship, the availability of capital, or public policy.
To most people, the word "economics" sounds like homework. In Visible Hand, Wall Street Journal op-ed editor Matthew Hennessey brings basic economic principles vividly to life in plain English, without resort to numbers, graphs, or jargon. This isn't Fed policy or the stock market. This is the essential stuff: supply and demand, incentives and tradeoffs, scarcity and innovation, work and leisure. A teenager should be able to discuss these things intelligently. Sadly, too few of us can explain them even in adulthood. Visible Hand equips readers with the essential vocabulary necessary to understand and explain how we make the choices we do. In Hennessey's hands, economics is far from the dismal science. It's the sparkling art of decision making. No homework necessary.
Adam Smith’s landmark treatise on the free market paved the way for modern capitalism, arguing that competition is the engine of a productive society, and that self-interest will eventually come to enrich the whole community, as if by an ‘invisible hand’. Throughout history, some books have changed the world. They have transformed the way we see ourselves – and each other. They have inspired debate, dissent, war and revolution. They have enlightened, outraged, provoked and comforted. They have enriched lives – and destroyed them. Now Penguin brings you the works of the great thinkers, pioneers, radicals and visionaries whose ideas shook civilization and helped make us who we are.
The economic and geopolitical implications of China's rise have been the subject of vast commentary. However, the institutional implications of China's transformative development under state capitalism have not been examined extensively and comprehensively. Regulating the Visible Hand? The Institutional Implications of Chinese State Capitalism examines the domestic and global consequences of Chinese state capitalism, focusing on the impact of state-owned enterprises on regulation and policy, while placing China's variety of state capitalism in comparative perspective. It first examines the domestic governance of Chinese state capitalism, looking at institutional design and regulatory policy in areas ranging from the environment and antitrust to corporate law and taxation. It then analyses the global consequences for the regulation of trade, investment and finance. Contributors address such questions as: What are the implications of state capitalism for China's domestic institutional trajectory? What are the global implications of Chinese state capitalism? What can be learned from a comparative analysis of state capitalism?
Latin America is looking towards China and Asia -- and China and Asia are looking right back. This is a major shift: for the first time in its history, Latin America can benefit from not one but three major engines of world growth. Until the 1980s ...
This book puts the industrial revolution in a political and institutional context of state-making and the creation of modern national states, demonstrating that industrial transformation was connected to state and military interests.
How do mafias work? How do they recruit people, control members, conduct legal and illegal business, and use violence? Why do they establish such a complex mix of rituals, rules, and codes of conduct? And how do they differ? Why do some mafias commit many more murders than others? This book makes sense of mafias as organizations, via a collative analysis of historical accounts, official data, investigative sources, and interviews. Catino presents a comparative study of seven mafias around the world, from three Italian mafias to the American Cosa Nostra, Japanese Yakuza, Chinese Triads, and Russian mafia. He identifies the organizational architecture that characterizes these criminal groups, and relates different organizational models to the use of violence. Furthermore, he advances a theory on the specific functionality of mafia rules and discusses the major organizational dilemmas that mafias face. This book shows that understanding the organizational logic of mafias is an indispensable step in confronting them.
A groundbreaking history of the confluence of regulatory thinking and building design in the United States What is the origin of “room temperature”? When did food become considered fresh or not fresh? Why do we think management makes things more efficient? The answers to these questions share a history with architecture and regulation at the turn of the twentieth century. This pioneering technological and architectural history of environmental control systems during the Gilded Age begins with the premise that regulation—of temperature, the economy, even the freshness of food—can be found in the guts of buildings. From cold storage and scientific laboratories to factories, these infrastructures first organized life in a way we now call “modern.” Drawing on a range of previously unexplored archival resources, Michael Osman examines the increasing role of environmental technologies in building design from the late nineteenth century. He shows how architects appropriated and subsumed the work of engineers as thermostats, air handlers, and refrigeration proliferated. He argues that this change was closely connected to broader cultural and economic trends in management and the regulation of risk. The transformation shaped the evolution of architectural modernism and the development of the building as a machine. Rather than assume the preexisting natural order of things, participants in regulation—including architects, scientists, entrepreneurs, engineers, managers, economists, government employees, and domestic reformers—became entangled in managing the errors, crises, and risks stemming from the nation’s unprecedented growth. Modernism’s Visible Hand not only broadens our conception of how industrial capitalism shaped the built environment but is also vital to understanding the role of design in dealing with ecological crises today.