Cover: The Fracturing of the American Corporate Elite, from Harvard University PressCover: The Fracturing of the American Corporate Elite in HARDCOVER

The Fracturing of the American Corporate Elite

Add to Cart

Product Details

HARDCOVER

$40.00 • £32.95 • €36.00

ISBN 9780674072992

Publication Date: 05/07/2013

Short

384 pages

6-1/8 x 9-1/4 inches

6 graphs, 3 tables

World

In the aftermath of a financial crisis marked by bank-friendly bailouts and loosening campaign finance restrictions, a chorus of critics warns that business leaders have too much influence over American politics. Mark Mizruchi worries about the ways they exert too little. The Fracturing of the American Corporate Elite advances the surprising argument that American CEOs, seemingly more powerful today than ever, have abrogated the key leadership role they once played in addressing national challenges, with grave consequences for American society.

Following World War II, American business leaders observed an ethic of civic responsibility and enlightened self-interest. Steering a course of moderation and pragmatism, they accepted the legitimacy of organized labor and federal regulation of the economy and offered support, sometimes actively, as Congress passed legislation to build the interstate highway system, reduce discrimination in hiring, and provide a safety net for the elderly and needy. In the 1970s, however, faced with inflation, foreign competition, and growing public criticism, corporate leaders became increasingly confrontational with labor and government. As they succeeded in taming their opponents, business leaders paradoxically undermined their ability to act collectively. The acquisition wave of the 1980s created further pressures to focus on shareholder value and short-term gain rather than long-term problems facing their country.

Today’s corporate elite is a fragmented, ineffectual group that is unwilling to tackle the big issues, despite unprecedented wealth and political clout. Mizruchi’s sobering assessment of the dissolution of America’s business class helps explain the polarization and gridlock that stifle U.S. politics.

Recent News

Black lives matter. Black voices matter. A statement from HUP »

From Our Blog

Jacket, Bored, Lonely, Angry, Stupid: Changing Feelings about Technology, from the Telegraph to Twitter, by Luke Fernandez and Susan J. Matt, from Harvard University Press

Technology, Biology, Chronology

Fears and anxieties about the latest technologies are nothing new, say Luke Fernandez and Susan J. Matt, authors of Bored, Lonely, Angry, Stupid: Changing Feelings about Technology, from the Telegraph to Twitter. But neither is the fact that they often provide new ways for us to connect and socialize. Mark Twain is rumored to have said “History doesn’t repeat itself, but it often rhymes.” Of late, much press has been spent on uncovering those rhymes, focusing on the similarities between the current epidemic and past ones. These stories underscore the lesson that progress hasn't allowed us to escape the suffering of earlier