Political Science 2211E Lecture Notes - Lecture 13: Industrial Revolution, Scientific Management, Adolf A. Berle
24 Jun 2016
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Polisci 2211 dec 7 2015 the modern corporate rise of unions. Business is legally separate entity from owners/shareholders. Industrial revolution led to the emergence of big corp. Many founded and run by individual industrialists known as robber barons . J. p morgan financed mergers in rail and steel and set off m&a wave. Private crop owned by individual or families. Owners often specialized in the products they produced: centralized to decentralized ownership robber barons retired and sold their shares. Many firms went public through ipo came to be owned by a large number of small, unconnected shareholders. Ipo= intial public offering sell shares in the comp to become billionaire. Small # own shares often person or family. 407 highway started as crown corp (nationalization) then sells it off to a private comp (privatiziation: separation of ownership and control. Decentralized ownership meant owners no longer ran corporation. 1932 berle- means model of the modern corp.
