Chandler states that the first industrial revolution contributed to the advancement of technology and created market economies through managerial capitalism. He notes that modern technologies, including the …show more content…
Thomas Hughes, an author and judge, argued that managerial capitalism does not analyze the spread of the firm-transcending enterprises. He concluded that Chandler’s article did not fully analyze the effects that managerial capitalism can have on the managers of these firms, which means that Chandler did not take into account the disadvantages that managerial capitalism has on companies. In addition, Roy Church, a professor and author, mentioned that some companies have experienced negative results from managerial capitalism. For example, Birmingham Small Arms Company experienced a financial loss in 1935, even after structural reorganizations. Therefore, managerial capitalism will need to be further analyzed to address the defects companies experience with their profits and