La mano visible
This book explains, in exemplary fashion, the role of the big company and its managers in the early years of modern capitalism, from the second half of the 19th century to the first third of the 20th. Published in 1977, it successively won the Pulitzer and Bancroft prizes of 1978 and also the Newcomen Book Award 1975-1978, for the best essay of the triennium.
Alfred Chandler describes the appearance of "the visible hand" of the managers, and how this replaced what Adam Smith had called "the invisible hand" of the market. This represents no less than the passage from the familiar liberal capitalism of Smith, in the 18th century, to the professional management capitalism of Chandler, in which we currently live.
"A superb book, a triumph of creative synthesis".
"This book is a major contribution to economics, as well as to business history".
New York Review of Books
"A monumental effort summarizing much of what is known about the rise of the managerial class... Chandler deserves a wide audience".
New York Times Book Review
"Alfred Chandler is the world master of business history".
David S. Landes