The Visible Hand: The Managerial Revolution in American Business
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| Author | Alfred D. Chandler, Jr. |
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| Country | US |
| Genre | history |
| Publisher | Harvard University Press |
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Publication date
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1977 |
| Pages | 608 |
| Awards | Pulitzer Prize for History |
| ISBN | |
The Visible Hand: The Managerial Revolution in American Business is a book by American business historian Alfred D. Chandler, Jr., published by Harvard University Press in 1977. Chandler argues that in the nineteenth century, Adam Smith's famous invisible hand of the market was supplanted by the "visible hand" of middle management, which became "the most powerful institution in the American economy".
The Visible Hand was awarded the 1978 Pulitzer Prize for History and the Bancroft Prize of Columbia University.
Chandler uses eight propositions to show how and why the visible hand of management replaced what Adam Smith referred to as invisible hand of the market forces:
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