The Discovery and Study of a “Corporate Liberalismâ€

Once the story of modern America seemed relatively simple. On one side stood a business elite defending a market system to which it owed its power and position. On the other stood the “common man,†economically weak but politically capable of forging tools that could alter the workings of market discipline. And between them, waxing and waning in response to “reform†and “counter-reform,†stood the aggregation of political tools that the “common man†had been able to forge. Such was the story told in “liberal†history; and with reversed heroes and villains, the same story was told in “conservative†history. Both assumed a business-government dichotomy, and both ignored or slighted those aspects of modern America that could not be fitted into it.