The Modern Corporation And Private Property

This monumental work on the corporation is one of those enduring classics that many cite but few have read. Graced with a new introduction by Weidenbaum and Jensen, this edition makes this classic available to a new generation. Written in the early 1930s, The Modern Corporation and Private Property remains the fundamental introduction to the internal organization of the corporation in modern society. Combining the analytical skills of an attorney with those of an economist, Berle and Means raise central questions about the separation of ownership from control of the modern corporation and its consequences. The book explores the divergence of interests between directors, managers, and owners, and discusses the rise in size of corporations and economic concentration. It examines stock exchanges and markets, and the motivations behind managerial decisions. The new introduction critically assesses developments like the rise of the service sector and the role of institutional investors, underscoring the book's ongoing relevance.