Millionaires and Managers: Structure of U.S. Financial Oligarchy
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This book, written in 1962-63, is a result of a special investigation of control in large American corporations. I decided not to confine myself to a study of the sources available at the time, but also personally to verify the correctness of the managerial revolution theory first advanced by A. Berle and G. Means in the early 1930s. For this purpose I collected all the material published in the United States and accessible to foreign researchers on the distribution of share ownership of the big corporations and banks and other financial institutions, the position of the top managers in these institutions and corporations, the fate of the old large fortunes and of the new multimillionaires who appeared in recent decades despite tax legislation and other state regulatory measures. The results were compared with data on the situation which existed in the United States in the 1920s and 1930s, and the respective conclusions were drawn, which the reader will find in the book.
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