European Tribune - Comments - The Anglo Disease: regulation vs pay

The Anglo Disease: regulation vs pay | 23 comments (23 topical, editorial, 0 hidden)

Re: The Anglo Disease: regulation vs pay (none / 0)

My theory is that, after shareholder power was eroded in the post-WWII years, eventually "the wealthy" (pace Colman) realised the control of the corporations had passed to the management and decided to become management. Hence, MBA programs and "executive compensation".

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Migeru (migeru at eurotrib dot com) on Fri Apr 10th, 2009 at 04:41:23 AM EST
[ Parent ]

Re: The Anglo Disease: regulation vs pay (none / 0)

True. See Alfred D. Chandler's "The Visible Hand"

"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet

by Melanchthon on Fri Apr 10th, 2009 at 04:51:43 AM EST
[ Parent ]

Re: The Anglo Disease: regulation vs pay (none / 0)

But The Visible Hand refers to the period before the 1930's, not after the 1970's.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Migeru (migeru at eurotrib dot com) on Fri Apr 10th, 2009 at 05:02:00 AM EST
[ Parent ]

Re: The Anglo Disease: regulation vs pay (none / 0)

Yes, but the model developed by a few big companies before the 30's was extended to all the economic sectors/ sizes of companies during and following WWII, together with a huge development of modern manufacturing.

"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet

by Melanchthon on Fri Apr 10th, 2009 at 05:49:10 AM EST
[ Parent ]

The Anglo Disease: regulation vs pay | 23 comments (23 topical, 0 editorial, 0 hidden)

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