Abstract
Abstract Power in the contemporary business enterprise rests upon the legal form of the joint stock company or corporation. It was through this legal form that enterprises were able to increase in size, to merge with or to acquire other enterprises, and to establish extensive internal hierarchies of authority. At the heart of the dispute between the theory of industrial society and the theory of capitalist society is a disagreement over the social consequences that are assumed to follow from this legal form. In the theory of industrial society, the corporate form allows a separation of ownership from control to emerge; and this in turn results in an enhancement of the power of the managers of the enterprises.
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