![]() ![]() Burnham and other mid-20th century thinkers including Adolf Berle and Gardiner Means, Bruno Rizzi, and John Kenneth Galbraith argued that the bourgeois phase of capitalism, dominated by owner-operators, was giving way to a new system of national and multinational corporate capitalism in which corporate managers, not countless anonymous investors, were the real economic elite. The term “managerial elite” was popularized by James Burnham in his 1941 book The Managerial Revolution. ![]()
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