simple, capitalism is where things are run by owners of capital. Managementism is where the managers of companies run things because ownership has been diluted

simple, capitalism is where things are run by owners of capital. Managementism is where the managers of companies run things because ownership has been diluted and ignored. This idea is from a book by Frederick Lewis Allen. "The Big Change", published 1952. http://gutenberg.net.au/ebooks05/0500881h.html http://gutenberg.net.au/ebooks05/0500881h.html " With potential opposition melting away through the sales exit, the management is very much in the saddle--and in most of these larger companies it is virtually self-perpetuating. How else could things be run in, let us say, the American Telephone Company, which has over a million shareholders, no one of whom owns more than one-tenth of one per cent of the stock? Looking at this segment of American business, we would almost find it appropriate to call our present economic system "managementism" rather than "capitalism." "