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The Impact of the Corporation on Classical Economic Theory

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  • Adolf A. Berle

Abstract

Introduction, 25. — Preliminary: Some measurable fact-phenomena, 27; size and scope of large corporate activities, 27; distribution of ownership, 28; change in wealth-holding, 28; source of and power over capital, 29. — I. The shift from "capitalist" control, 30. — II. The immutability of classical economic principles, 31; competition, 32; maximization of profit, 33. — III. Stockholders derive what influence they have from social-political, not from entrepreneurial, factors, 37.

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  • Adolf A. Berle, 1965. "The Impact of the Corporation on Classical Economic Theory," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 79(1), pages 25-40.
    • Handle: RePEc:oup:qjecon:v:79:y:1965:i:1:p:25-40.
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    File URL: http://hdl.handle.net/10.2307/1880510
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    Cited by:

    1. Lisa De Propris & Ping Wei, 2007. "Governance and Competitiveness in the Birmingham Jewellery District," Urban Studies, Urban Studies Journal Limited, vol. 44(12), pages 2465-2486, November.
    2. Alexandre Chirat, 2021. "When Berle and Galbraith brought political economy back to life : Study of a cross-fertilization (1933-1967)," EconomiX Working Papers 2021-27, University of Paris Nanterre, EconomiX.
    3. Biondi Yuri, 2013. "Hyman Minsky’s Financial Instability Hypothesis and the Accounting Structure of Economy," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 3(3), pages 141-166, June.
    4. Ferguson, John & Collison, David & Power, David & Stevenson, Lorna, 2009. "Constructing meaning in the service of power: An analysis of the typical modes of ideology in accounting textbooks," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 20(8), pages 896-909.
    5. Biondi Yuri, 2012. "What Do Shareholders Do? Accounting, Ownership and the Theory of the Firm: Implications for Corporate Governance and Reporting," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 2(2), pages 1-29, June.
    6. Butzbach Olivier & von Mettenheim Kurt E., 2015. "Alternative Banking and Theory," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 5(2), pages 105-171, July.
    7. Hong Bo & Ciaran Driver, 2012. "Agency Theory, Corporate Governance and Finance," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 11, Edward Elgar Publishing.
    8. Ludovico Alcorta, 1986. "Perspectivas de la centralización económica: un balance bibliográfico," Apuntes. Revista de ciencias sociales, Fondo Editorial, Universidad del Pacífico, vol. 13(19), pages 3-51.

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