She cites industry predictions that the financial-services industry will be unionized within the decade. She also sees unfathomed potential in the power of socially conscious investment vehicles to change corporate behavior. The irrationality of cannibalistic capitalism argues against its longevity. A recent book examines the demoralizing effects of the newly ascendant business regime. But the problem of competition remains.
Insecure companies make for insecure employees.
John D. Rockefeller invented corporate capitalism as an escape from the atomistic price competition of Adam Smith. Corporate capitalism sought to replace the invisible hand of the market with the visible hand of management. Some economists see the mega-mergers of the past few years as gropings for the stability of global oligopoly, for the return of the visible hand. More on books in Atlantic Unbound and The Atlantic Monthly. All rights reserved.