America's New Economic Order
| Author | : | |
| Rating | : | 4.49 (514 Votes) |
| Asin | : | 1859723357 |
| Format Type | : | paperback |
| Number of Pages | : | 192 Pages |
| Publish Date | : | 0000-00-00 |
| Language | : | English |
DESCRIPTION:
Its shared thesis is that America's corporations are controlled by a new class of managers and professional, but it cavalierly assumes that capitalists are still the main beneficiaries. In a major revision of economic theory, the author argues that there is an unacknowledged element of surplus concealed in employee compensation. Having identified it with returns to skill over cost, he shows how today it increasingly overshadows the returns to capital. The political significance of this startling conclusion is that socialists are no more necessary to socialism than is public ownership. There is a growing literature on America's postcapitalist society, an intellectual tradition that runs from Veblen, its prophet, through Berle and Means to Burnham, Drucker and Galbraith. Although not socialism in ideal terms, the author concedes, managerial socialism is here to stay.. Socialism requires only that employers manage the economy and that they siphon off most of the surplus. The author disputes this assumption
Triple Play: From Marx to Burnham to Hodges America's New Economic Order by Donald C.Hodges is a provocative book long essay which brilliantly syntheizes the works of grand master theorists from Karl Marx and his theory of communist revolution to James Burnham and his theory of the managerial revolution,and leading to Hodges own grand theory-that the U.S. is no longer a capitalist society in the classical sense of t