A popular text and valuable resource since the first edition was
published in 1972, Robert Sobel's "The Age of Giant CorporationS"
is now available in a third edition, bringing the history up to the
present. This book describes the industries and corporations that
have played major roles in the nation's economic growth since the
outbreak of World War I. It concentrates on management, technology,
marketing and finance, and is concerned with the interrelations and
intertwining of political and industrial power. The current edition
includes a new chapter covering the impact of junk bonds and
corporate governance in the 1980s and early 1990s, an age of
restructuring and re-creation in giant corporations.
Taking a chronological approach, the volume opens with a chapter
on American business during World War I. The author then covers the
1920s in two chapters, one on the glamour industries of the era and
one discussing power, consolidation, and mass distribution. Turning
to the Depression era in Chapters 4, 5, and 6, he then considers
the failure of finance capitalism, business during the New Deal,
and growth elements during the Depression. Chapter 7 considers
government-business relations in World War II, and Chapter 8
discussed monopsony and conglomerates in postwar America. Turning
to the 1960s and 1970s, the next two chapters are devoted to big
business and then to decline, revival, and renewal. The final
chapter covers the era of the junk bond and its aftermath. The Age
of Giant Corporations will continue to be a valuable book for
students and scholars of U.S. economic history.
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