Literature/1977/Chandler

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 * Alfred Chandler
 * Chandler argued that modern large-scale firms arose to take advantage of the national markets and productive techniques available after the rail network was in place. He found that they prospered because they had higher productivity, lower costs, and higher profits. The firms created the "managerial class" in America because they needed to coordinate the increasingly complex and interdependent system. According to Steven Usselman, this ability to achieve efficiency through coordination, and not some anti-competitive monopolistic greed by robber barons, explained the high levels of concentration in modern American industry.
 * The Visible Hand
 * The title is a play on Adam Smith's famous notion of the invisible hand. Chandler described the emergence the managerial layer of the firms, who could extend its domain of action by sheer desire to exploit the new found efficiency to domains of action for which it had not be designed for nor instructed to.

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 * organizational learning


 * invisible hand
 * invisible college
 * implicature
 * contextualism