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Washington, D.C.: Center for Economic and Policy Research.īauwens, Michel. The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer. “Control in Large Organizations.” Management Science 10 (3): 397–408.īaker, Dean. This process is experimental and the keywords may be updated as the learning algorithm improves.Īrrow, Kenneth. These keywords were added by machine and not by the authors. Although at one point he explicitly denied that the entrepreneur was omnipresent, in practice Mises viewed his entrepreneur as a brooding omnipresence whose influence guided the action of every employee from CEO to janitor.
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By treating the firm as permeated by the entrepreneur’s will, Mises, like the neoclassicals, essentially treated it as a unitary actor in the marketplace and its internal workings as a black box. The motivation of all corporate employees would be profit seeking, their wills in harmony with those of the shareholders, because they belonged to the shareholders’ organization. The entrepreneur could track the profits and losses of each subdivision, and accordingly shift investment between subdivisions and discipline or replace managers. The large business enterprise, on the other hand, was-thanks to the miracle of double-entry bookkeeping-an extension of the entrepreneur’s will. He defined bureaucracy as rules-based management, with processes set on Weberian lines, rather than profit-based management, because it produced no marketable product and its output had no market price. He argued that the corporate hierarchy as such was not a bureaucracy. Ludwig von Mises tried, in Bureaucracy (2007 ), to make the bureaucratic or entrepreneurial character of an organization a simple matter of its organizational goals rather than its function.