The Power Structure of American BusinessMintz and Schwartz offer a fascinating tour of the corporate world. Through an intensive study of interlocking corporate directorates, they show that for the first time in American history the loan making and stock purchasing and selling powers are concentrated in the same hands: the leadership of major financial firms. Their detailed descriptions of corporate case histories include the forced ouster of Howard Hughes from TWA in the late fifties as a result of lenders' pressure; the collapse of Chrysler in the late seventies owing to banks' refusal to provide further capital infusions; and the very different "rescues" of Pan American Airlines and Braniff Airlines by bank intervention in the seventies. |
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Contents
Constraint Discretion and Intercorporate Power | 1 |
Managerial Autonomy Corporate Unity and the | 17 |
The Structure and Functions of Unity among | 45 |
Bank Intervention Institutional Stockholding and | 72 |
The Texture of Financial Hegemony | 104 |
Interlocking Directorates | 127 |
The | 144 |
Directional Interlocks and the Integration of | 184 |
Unity and the Division of | 202 |
Financial Groups and Intracapitalist Competition | 224 |
Conclusion | 249 |
Interlocking Directorates among | 257 |
Refinements in Centrality Analysis | 272 |
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Common terms and phrases
American bank control theory bank intervention Bank of Chicago bankruptcy banks and insurance Baran and Sweezy Bearden borrowers Business Week capital flows capitalist central firms chapter Chase Manhattan Chemical Bank chief executive officer clique commercial banks Consolidated Edison control theory coordination corporate interlocks created crisis directional discretion discretionary decision dominant economic Equitable example financial hegemony financial institutions funds Gogel important industrial firms influence insurance companies interlock network interlock research interlocking directorates International investment banks involved Kotz largest leadership Lehman Brothers lenders lending leverage loan maintained major banks managerial Mariolis Mellon million Mizruchi money market money market banks Morgan mutual deterrence National Bank National City Bank nonfinancial firms patterns peak analysis porate profit ranked reflect regional banks relationships resource dependency Role of Financial sectors sources Stockholding and Bank strategic control structural constraint trust departments United United California Bank unity York
Bibliographic information
| Title | The Power Structure of American Business |
| Authors | Beth A. Mintz, Michael Schwartz |
| Editor | Michael Schwartz |
| Contributor | Michael Schwartz |
| Edition | illustrated |
| Publisher | University of Chicago Press, 1985 |
| ISBN | 0226531082, 9780226531083 |
| Length | 327 pages |
| Export Citation | BiBTeX EndNote RefMan |