Background
Means, Gardiner Coit was born on June 8, 1896 in Windham, Connecticut, United States. Son of Frederick Howard and Helen Chandler (Coit) Means.
( This monumental work on the corporation is one of those...)
This monumental work on the corporation is one of those enduring classics that many cite but few have read. Graced with a new introduction by Weidenbaum and Jensen, this new edition makes this classic available to a new generation. Written in the early 1930s, The Modern Corporation and Private Property remains the fundamental introduction to the internal organization of the corporation in modern society. Combining the analytical skills of an attorney with those of an economist, Berle and Means raise the central questions, even when their answers have been superseded by changing circumstances. The book's most enduring theme is the separation of ownership from control of the modern corporation and its consequences. Berle and Means display keen awareness of the divergent interests of directors and managers, and of each from owners of the firm. Among their predictions are the characteristic increase in size of the modem corporation and concentration of the economy. The authors view stock exchanges and stock markets as essential by-products of the rise of the modem corporation, and explore how these function. They address the difficult questions of whether corporations operate for the benefit of owners or managers, and explore what motivates managers to make effective use of corporate assets. Finally, they examine the role of the corporation as the prevailing form of organizing the production and distribution of goods and services. In their new introduction, Weidenbaum and Jensen, co-directors of the Center for the Study of American Business at Washington University, critically assess the impact of developments not fully anticipated by Berle and Means, such as the rise of the service sector, and the significant role played by institutional investors in the owner/manager equation. They note the authors' prescient observations, including the complex role of and motivating influences on professional managers, and the significance of inside information on stock markets. As they note, The Modern Corporation and Private Property remains of central value to all those concerned with the evolution of this major social institution of the twentieth century. Scholar and practitioner alike will find it of enduring significance.
http://www.amazon.com/gp/product/0887388876/?tag=2022091-20
(Lang:- , Pages 424. Reprinted in 2015 with the help of or...)
Lang:- , Pages 424. Reprinted in 2015 with the help of original edition published long back[1933]. This book is in black & white, Hardcover, sewing binding for longer life with Matt laminated multi-Colour Dust Cover, Printed on high quality Paper, re-sized as per Current standards, professionally processed without changing its contents. We found this book important for the readers who want to know more about our old treasure so we brought it back to the shelves. Hope you will like it and give your comments and suggestions.
http://www.amazon.com/gp/product/9333385347/?tag=2022091-20
Means, Gardiner Coit was born on June 8, 1896 in Windham, Connecticut, United States. Son of Frederick Howard and Helen Chandler (Coit) Means.
AB, Harvard University, 1918. AM, Harvard University, 1927. Doctor of Philosophy, Harvard University, 1933.
Staff, Near East Relief, Turkey in Asia, 1919-1920. Textile Manufacturer, Lowell, Massachusetts, 1922-1929. Research Economics, Association Law, Colombia Law School, 1927-1933.
Economics Adviser Finance, United States Secretary Agriculture, 1933-1935. Member, Consumer Advisory Board, NR A, 1933-1935. Director, Industrial Section, National Resources Committee, 1935-1939.
Economics Adviser, National Resources Planning Board, 1939^40. Fiscal Analyst, United States Bureau Budget, 1940-1941. Association Director Research, Advisory Board Consultant, Committee, for Economics Development, Washington, District of Columbia, 1943-1949, 1949-1954,1954-1958.
Economics Consultant, Fund for Republic, 1957-1959. Partner,
Lawn Grass Development Company, 1951-1963. Member, Maine State Planning Council, 1968-1972.
Self-employed Author and Consultant, since 1959.
( This monumental work on the corporation is one of those...)
( This monumental work on the corporation is one of thos...)
(This is a reproduction of a book published before 1923. T...)
(Lang:- eng, Pages 424. Reprinted in 2015 with the help of...)
(Lang:- , Pages 424. Reprinted in 2015 with the help of or...)
(Some graphs. Big Business; Administered Prices; Government.)
Author: (with J.C. Bonbright) The Holding Company -- Its Public Significance and Its Regulation, 1932, (with A.A. Berle) The Modern Corporation and Private Property, 1932, (with Caroline F. Ware) Modern Economy in Action, 1936, The Structure of the American Economy, 1939. Co-author: Jobs and Markets, 1946, Pricing Power and the Public Interest, 1962, The Corporate Revolution in America, 1962. Contributor articles to professional journals.
Trained as a chemist, my contribution to economics came after I had experienced productive activity in two quite different types of economy. After World War I, the Near East Relief sent me to the preindustrial economy of Turkey to run a complex of small shops (weaving, shoemaking, carpentry, etc.) to train and supply the needs of Armenian orphans. Then, in the highly industrial United States economy, I successfully ran my own small textile enterprise.
Curiosity over the great difference between these two economies led me to enter the Harvard Graduate School where I learned how little economic theory had adjusted to the basic structural changes brought to Adam Smith’s economy by the modern corporation. My doctoral thesis in 1933 was entitled ‘The Corporate Revolution’.
My principal contributions to economics have been: (1) showing the dominant role of the modern corporation. (2) showing the separation of ownership and control which facilitated economic concentration.
(3) showing the inflexibility of administered prices which undermined the automatic mechanism traditionally relied on to maintain full employment. (4) delineating the structure of the American economy. And (5) developing a method for projecting ‘Patterns of Resource Use’ at full employment used successfully in averting a depression at the end of World War
In 1959, my pamphlet, Administrative Inflation and Public Policy, reported the discovery of a wholly new kind of inflation in which prices increase perversely in response to a fall in demand, thus producing simultaneous inflation and recession, an impossibility under traditional theories.
Study of this finding showed that the new inflation does not arise from too much money chasing too few goods but from normal administrative decisions which carry an infla-
tionary bias and that it cannot be controlled by monetary and fiscal measures. Only recently have I discovered a practical way of avoiding this inflationary bias in a manner consistent with the market system. This I hope will be my final contribution.
Served to Second lieutenant, infantry United States Army, 1917, Second lieutenant Signal Corps, aviator, 1918-1919. Member American Economic Association, Royal Economic Society, American Statistical Association.
Married Caroline Farrar Ware, June 2, 1927.