Title The fracturing of the American corporate elite / Mark S. Mizruchi

Published Cambridge, Massachusetts : Harvard University Press, 2013

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Description 1 online resource (xiv, 363 pages) : illustrations Contents The rise of the American corporate elite -- The state and the economy -- Labor as uneasy partner -- The banks as mediators -- The breakdown of the postwar consensus -- Winning the war, but losing the battle: the fragmentation of the American corporate elite -- The aftermath -- The ineffectual elite Summary Critics warn that corporate leaders have too much influence over American politics. Mark Mizruchi worries they exert too little. American CEOs have abrogated their civic responsibilities in helping the government address national challenges, with grave consequences for society. A sobering assessment of the dissolution of America's business class 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 Bibliography Includes bibliographical references (pages 289-354) and index Notes In English Online resource; title from PDF title page (viewed October 14, 2013) Subject Corporations -- Political aspects -- United States -- History Chief executive officers -- United States -- History Business and politics -- United States -- History Social responsibility of business -- United States -- History POLITICAL SCIENCE -- Political Process -- Political Advocacy. HISTORY -- United States -- 20th Century. Business and politics Chief executive officers Corporations -- Political aspects Economic policy Social policy Social responsibility of business SUBJECT United States -- Social policy. http://id.loc.gov/authorities/subjects/sh85140547 United States -- Economic policy. http://id.loc.gov/authorities/subjects/sh85140033 Subject United States Genre/Form History Form Electronic book LC no. 2012044933 ISBN 9780674075368 0674075366

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