But the long-term result has been the emergence of a new…
““But the long-term result has been the emergence of a new managerial class, as the multinationals move in with their takeover bids, their legal privileges and their transnational lobbyists for whom small businesses and entrepreneurs are the enemy. Those who object to this new managerialism (and I am one of them) should nevertheless recognize that what is bad in it is precisely what was bad in the old corporatist economy that Thatcher set out to destroy. When she claimed that entrepreneurs create things, while managers entomb them, it was immediately apparent that she was right, since the effects of the management culture lay all around us.””
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
New managerial class in multinational takeovers mirrors old corporatist flaws, despite Thatcher’s claim that entrepreneurs create value
In simple terms: Modern corporate power reproduces past economic issues, undermining entrepreneurship
Key Takeaway
Beware of managerial dominance that stifles innovation
Themes
politics
economics
power dynamics
Mood
critical
analytical
Type
philosophical
political
When to use this quote
- Policy analysis
- business strategy
- academic debate
Key Concepts
Managerialism
corporate governance
entrepreneurship
Questions to Reflect On
- What safeguards can protect small businesses?
- How to balance managerial expertise with entrepreneurial freedom?
A Different Perspective
Critics argue managers can also drive efficiency and growth