An updated revisting of the themes of Robin Marris' classic The Economic Theory of Managerial Capitalism (1964). This was widely recognised as pathbreaking as it was the first attempt by a professional economist to make a formal theory of the behaviour and growth of a large-scale 'managerial' corporation based on a realistic assessment of the sociological and institutional environment. The model determined the long-run growth rates of individual firms on the basis of the financial and market environment on the one hand and the needs, interest and aspirations of both managers and shareholders on the other. Managers in particular were shown to trade desire for growth against fear of takeover. These then novel important features of modern capitalism - mergers, takeovers and executive bonuses and the relationship between the growth of firms and the growth of the economy - have become increasingly topical. The book contains the original introduction along with reworked and updated coverage of the theoretical model, along with completely new chapters both of micro-theory and Marris' substantive response to the debate which the original book created.

This is an updated and edited version of Robin Marris' classic "The Economic Theory of Managerial Capitalism" (1964). This was widely recognized as pathbreaking as it was the first attempt by a professional economist to make a formal theory of the behavior and growth of a large-scale "managerial" corporation based on a realistic assessment of the sociological and institutional environment. The model determined the long run growth rates of individual firms on the basis of the financial and market environment on the one hand, and the needs, interest and aspirations of both managers and shareholders on the other. Managers in particular were shown to trade desire for growth against fear of takeover. These then novel important features of modern capitalism--mergers, takeovers and executive bonuses and the relationship between the growth of firms and the growth of the economy--have become increasingly topical. The new book contains the original introduction along with reworked and updated coverage of the theoretical model, along with completely new chapters both of micro-theory and assessing and responding to the debate which the book created.

Narratives of South Asian and South Asian American Social Justice Educators carries the voices of faculty in higher education. Caught between the stereotypes of the model minority and invisibleness, the authors narrate their triumphs, trials, and tribulations as social justice educators in US teacher education and allied fields. Their autoethnography-based narratives substantiate that a post-racial America is far from over. Stemming from their experiences in classrooms and the community, the authors offer usable strategies to educators and administrators, with the objective of creating a socially just society.

The outstanding moral problem of our time is the emergence of an underclass, provoking both pity and an angry political backlash. Robin Marris finds that a slowdown in growth is the root cause, leading to a collapse of the labour market for unskilled men in particular. Fashionable solutions such as lower wages or welfare reform benefit those already well-off, and exacerbate growing income inequality. He employs statistical, sociological and psychological analysis and new developments in 'brain science' to show how the creation of an open society with increased equality of opportunity risks creating an unnecessarily excessive meritocracy. The solution is restoring national and international priority to the objective of growth. If this fails, damage limitation is essential. We must learn to live with the welfare state.