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.

Chosen by BusinessWeek as One of the Top Ten Business Books of the Year
With apologies to Hegel, Marx, and Lenin, the basic unit of modern society is neither the state, nor the commune, nor the party; it is the company. From this bold premise, John Micklethwait and Adrian Wooldridge chart the rise of one of history’s great catalysts for good and evil.
In a “fast-paced and well-written” work (Forbes), the authors reveal how innovations such as limitations on liability have permitted companies to rival religions and even states in importance, governing the flow of wealth and controlling human affairs–all while being largely exempt from the rules that govern our lives.
The Company is that rare, remarkable book that fills a major gap we scarcely knew existed. With it, we are better able to make sense of the past four centuries, as well as the events of today.

This book shows how the seventy largest corporations in America have dealt with a single economic problem: the effective administration of an expanding business. The author summarizes the history of the expansion of the nation's largest industries during the past hundred years and then examines in depth the modern decentralized corporate structure as it was developed independently by four companies--du Pont, General Motors, Standard Oil (New Jersey), and Sears, Roebuck. This 1990 reprint includes a new introduction by the author.

Consumer electronics and computers redefined life and work in the twentieth century. In Inventing the Electronic Century, Pulitzer Prize-winning business historian Alfred D. Chandler, Jr. traces their origins and worldwide development. From electronics prime mover RCA in the 1920s to Sony and Matsushita's dramatic rise in the 1970s; from IBM's dominance in computer technology in the 1950s to Microsoft's stunning example of the creation of competitive advantage, this masterful analysis is essential reading for every manager and student of technology.