INDEX
Abs, Hermann, 106
Academic Credit Corporation, 134
Adams, Brooks, 153
political measures against, 85
predatory pricing and, 83
production consortiums and, 84–85
Advanced Management School, AT&T, 273
age and rank, in Japan, 71, 129
AIDS, 326
Aktiengesellschaft , 152
Allied Chemical Corporation, 215
Altmeyer, Arthur, 315
American Association of Retired Persons, 127
American Economic Association, 97
American Hospital Supply, 69, 70
American Management
Associations, xxi Ancient Law (Maine), 152
anti-Japanese measures, 84
Anti-Saloon League, 330
antitrust laws
conglomerates and, 298
labor unions and, 191
moralist approaches to, 296–298
takeover panels in mergers and, 228, 237
antitrust suits
against AT&T, 271, 273, 275, 278, 281–284, 285,
287, 288, 290, 291–293, 294, 300
against Standard Oil Trust, 272
Apple Computer, xvi–xvii Argentina, 9, 220, 222
Aristotle, 234
Armco, 197
ASEA, 32
assembly line, 15
Advanced Management School of, 273
antitrust suits against, 271, 273, 275, 278, 281–284, 285,
287, 288, 290, 291–293, 294, 300
as borrower, 279
defense communication and, 282, 291–293
difficulties for regional companies of, 284–286
hard-sell campaign by, 276–278
atomic energy research, 326
atypical Kondratieff wave, 37
Australia, 9
Automatic Sequence Controlled Calculator (ASCC), 262
automation
additional revenues from, 255–256
de-industrialization and, 15, 38
labor costs and, 18–19, 66, 70, 196, 198, 201, 309
manufacturing and, xxii, 15, 29, 45, 136, 185, 187, 248
reindustrialization and, 317
supervisor’s role and, 116–117, 185, 186
telephone service and, 280, 286
unemployment and, 60
automobile industry, 14, 16, 32, 45, 65, 78, 84, 112, 116–117, 125, 164, 168, 194, 196
Avery, Dennis, 5n
baby-boom and baby-boomers, xx, 34, 45, 62–63, 66, 129, 130, 138, 181–182, 249–250
baby bust, 62, 130, 138, 182, 198
Baker, James, 30
bankruptcy and bankruptcy laws, 167, 193, 216, 238–239, 243, 257
banks and banking
acquisitions and, 243
in China, 25
European manufacturing and, 45, 53
Eurodollars and, 327
international vice-president job in, 109
in Japan, 23, 28, 72, 73, 77, 83, 165, 171, 187, 204
liquidity arbitrage and, 220–221
loans and, xxi, 85, 214, 219, 220–222, 326, 328
long-distance telephone service and, 287, 295
Bauer, Otto, 88
Bell Atlantic, 292
Bell Laboratories
defense communications and, 291–293
future after breakup of, 289–291, 301
telecommunication technology of, 274–275
Bell Telephone System, 42, 88, 271–293
AT&T antitrust suit and, 281–283, 294, 298
breakup of, 270, 273, 283, 291
inflation’s impact on, 278–280, 300
issues after breakup facing, 284–288
marketing of home telephone by, 273–278, 296–297
benevolent neglect policy, 18
Bergsten, Fred, 56
Bethlehem Steel, 197
biotechnology, 66
Bismarck, Otto von, 314, 335, 336
blue-collar workers availability skilled workers for
jobs among, 135–136, 309, 310, 313
change in economic position of, 142–145
decreasing number of, 12, 13–15, 125, 309–310, 334
hostility takeovers and, 237, 238
knowledge workers versus, 17, 310
quality circles and, 117
retraining of, 18
supervisors and, 118
white-collar workers versus, 111, 113, 115, 255
Bluhdorn, Charles, 189
Boeing, 84
bonds, 220
Brazil, xxii, 7, 8, 19, 28–29, 47, 75, 220, 222, 226
Bretton Woods Conference, 30
British Factory Acts (1844), 314
Buddenbrooks (Mann), 151
Business Cycles (Schumpeter), 37
Calhoun, John C., 160
California Universal Telephone Law, 285
capital
automation and, 37
currency fluctuations and, 51, 52
entrepreneurs and sources of, xx, 36, 59, 61, 63, 304
high-tech industries and need for, 62, 63, 66
hostile takeovers and, 215, 217, 219
international competition and cost of, 19
international economy and flows of, 21–22, 25, 26
knowledge jobs and, 307, 308, 309
pension funds as sources of, 193, 223, 225
social challenges and, 304, 305
telephone business and, 279, 287
Third World countries and need for, 30
capital formation
antitrust issues and, 301
demand and, 90
Eurodollars and, 327
in Germany, 68
international economy and, 21, 52–53
job creation and, 309, 319–320
professional schools and, 208
capital-intensive industries, 38, 219, 279, 309, 310
capitalism, xxxi
compensation for top executives and, 122
corporate, see corporate capitalism
free enterprise and, 237
Schumpeter on, 96
Watson at IBM as symbol of, 263
Capitalism, Socialism and Democracy (Schumpeter), 96
capital movements
floating exchange rates and, 53
world economy and movement of, 3
Carnegie, Andrew, 302–303, 304, 319
Carnegie Foundation, 134
Carter, Jimmy, xxix, 5, 27, 28, 52, 75, 281, 282
Caterpillar, 54
CBS, 215
Chase Manhattan Bank, 170
China, 8, 77, 84, 160, 204, 333
Churchill, Winston, 156
Citibank, 32, 167, 170, 185, 187, 222, 244, 328
Class A and Class B shares, 228
commercial paper, xxii, 221, 323, 326–328
Commons, John R., 153
Communications Workers of America, 282, 286
compensation, executive, 119, 120–125
competitive trade, 81–82, 85, 86
complementary trade, 81
compulsory retirement, 126
computers
mainframe, 273
personal, 273
Watson at IBM and design of, 258, 259–263
Concept of the Corporation (Drucker), 209
Concorde, 63
concurrent majority, 160
Congress of Industrial Organizations, 161
consortiums, production, 84–85
Constitution, 335
Continental Illinois Bank, 220, 229
continuous learning, 265
Control Data Corporation, 303, 305
Cooper, James Fenimore, 269–270
core business, 52
corporate capitalism
hostile takeovers and, 233, 234
management and, 166–167, 216, 217
county farm agent system, 301, 303, 323, 331–332
craft guilds, 157
Cross, 71
cultural factors and doing business in Japan, 71–73
Cultural Revolution, China, 160
Cummins Engine Company, 305
decentralization, 207
defense communication, 282, 291–293
Deficits and the Dollar : The World Economy at Risk (Marris), 21n
defined-benefits plans, 223, 224, 230–231, 232
defined-contributions plans, 224, 230, 231, 232
De Gaulle, Charles, 57
Degeneration of the Democratic Dogma, The (Adams), 153
American labor force and, 12–14
British industrial decline and, 14
entrepreneurship and, 16
information-based manufacturing industries and, 17
knowledge-intensive industries and, 14–15
labor cost reduction by, 18–20
materials-based industries and, 17
mechanization and, 14
Democracy (Adams), 153
demographic trends
baby boom and, xx, 34, 45, 62–63, 66, 129, 130, 138, 181–182, 249–250
baby bust and, 62, 130, 138, 182, 198
entrepreneurship and, xx, 62–63, 139
middle management changes and, 181–182
retirement benefit changes and, 192–193
technology changes and, 307–308
unemployment and, 66
Denmark, 313
Deutsche Bank, 106
devaluation of U.S. dollar, 23, 24, 25, 76–77
development concepts, 28
Dickens, Charles, 151
distribution, in Japan, 71–72, 226, 317
doctors, compensation for, 143
dollar, U.S., devaluation of, 23, 24, 25, 76–77
Drucker, Peter, interview with, xv–xxxi
due process, 172
dumping, 84
Eastman, Joseph, 295
economics
monetarist, 31
ECU (European Currency Unit), 31, 51
Eisenhower, Dwight D., 159, 268, 326–327
End of Economic Man, The (Drucker), xxxi
ENIAC, 262
enlightened despots, 166, 234, 236, 314
entrepreneurial business, xvi–xvii, 34, 37, 66, 138–139, 187
entrepreneurial society, xx–xxii, xxix, 29, 60–61, 62
entrepreneurs, xvi, xviii–xix, xxii–xxiii, 30, 36, 59, 60–61, 63, 139, 304, 311, 320
entrepreneurship, xxiii, 16, 33–36, 59, 61, 63, 92, 138–139, 284
Euromarks, 327
European Common Market, 7, 51, 77, 300
European Currency Unit (ECU), 31, 51
Euro-Swiss-francs, 327
Euroyen, 327
exchange rates, 20, 21, 22, 23, 26, 46, 49, 52, 325
executives, compensation for, 119, 120–125
export markets
agricultural products and, 7, 8, 78
developing countries and, 11–12
domestic policies and, 12–13, 54–58
Germany and, 22, 64–65, 67, 76, 81, 82, 194
internationalist position for, 56
Japan and, 7, 20, 21, 22, 23–24, 28, 64–65, 78–79
of knowledge, 17
mercantilist position for, 57
nationalist position for, 57
raw materials and, 10, 19, 28, 30
smaller and middle-size business and, 16
Switzerland and, 82
telecommunications and, 288
Watson at IBM and, 266
Factory Acts (1844), United Kingdom, 314
Federal Communications Commission, 275, 293
first-line supervisors, 116–119
flexible benefits, 117, 118, 200
flexible contributions, 232
flight capital, 25
floating exchange rates, 20, 53
food
demand for, 5
Ford-Europe, 45
Ford Motor Company, 304
Foreign Affairs, 5n
foreign-exchange risks
selling short and, 50
Francis Joseph, Emperor, 166, 171
Freud, Sigmund, 331
Frick, Henry C., 302
Future of Industrial Man, The (Drucker), xxiv
Gabon, 42
Galbraith, John Kenneth, 216
GE Brazil, xxii Geneen, Harold, 189, 214
General Electric (GE), xxii, 14, 62, 137, 150, 165, 170, 171, 185, 187, 254, 290, 323–324
General Electric Credit Corporation, xxii, 327, 328
General Motors, 102, 124, 159, 186, 216, 228, 230, 232, 240, 266
General Theory of Employment, Interest and Money, The (Keynes), 88, 95
Germany, 4
apprentice training in, 67
automobile industry in, 32
business policy of, 68
currency fluctuations and, 52
entrepreneurial surge in, 66
exports and, 22, 64–65, 67, 76, 81, 82, 194
high tech industries in, 66
multinationals and, 44, 45–46, 47
trade policy of, 56
Gilder, George, xxiii
Ginzberg, Eli, 34
Giscard d’Estaing, Valéry, 57
go-between, in Japanese business, 73
Goldman Sachs, 327
Great Britain, undemployment in, 14
Great Depression, 4, 6, 37, 77, 191, 257, 258, 264
“Greening of America,” 35
greenmail, 214
Grove, Andrew S., xxvi
guild system, 157
Gulf & Western, 189
Gulf Oil, 215, 217–218, 272, 296
Gulick, Luther, 150
Hanna, Mark, 160
Hapsburg Grand Duchy, Florence, 314
Harvard Business Review, 180, 181
Harvard Business School, xx
Hearst, William Randolph, 329, 330
Hefner-Alteneck, Friedrich Franz von, 324
High Output Management (Grove), xxvi
high-tech entrepreneurship, 59–63
high technology businesses
emergence of, 10
exports and, 55
Hitler, Adolf, xv–xvi, 242, 330
hostile takeovers, xxvii, 172, 213–239
corporate capitalism failure and, 217, 233–234
defensiveness dangers in, 225–227
impact of, 213
inflation and, 167
management legitimacy and, 167, 235–236
pension funds in, 223–225, 229–233
preventive measures and, 225–228, 236
shareholders and, 214, 219, 222–223, 227, 235, 237–239
takeover panels preventing, 227–228
vulnerability of companies and, 216–219
Hugenberg, Alfred, 242
Huntington, Henry E., 302
Iacocca, Lee, 125
IBM, 14, 32, 48, 69, 118, 119, 171, 245, 288
antitrust suit against, 272–273
as intelligent monopoly, 297
research at, 325
Icahn, Carl, 215
independent directors, 235
Individual Retirement Account (IRA), 233
Indonesia, 9
industries
capital-intensive, 38, 219, 279, 309, 310
information and knowledge-based
labor-intensive, 15, 19, 29, 38, 313
materials-based manufacturing, 17
production versus employment in, 18
smokestack, 25, 27, 33, 37–38, 60, 65, 120, 123, 195, 196–201
information-based organizations, 185–189
entrepreneurial units in, 187
responsibility and self-discipline in, 187–188
span of communications in, 186
infrastructure innovations, 8
Innovation and Entrepreneurship (Drucker), xxi–xxiii, 16n, 209
In Search of Excellence (Peters and Waterman), xxi, xxvi
Insel, Barbara, 5n
intelligent monopolies, 296–297
International Chamber of Commerce, 258
internationalizing finances, 51–52
International Monetary Fund, 9, 9n
international trade, see trade
Itoh, 72
Jackson, Andrew, 55
Japan, 4
adversarial trade and, 81, 82, 83–86
automation and, xxii, 19, 254, 255
automobile industry in, 79, 112, 114, 196
brand recognition in, 70–71, 74
changing world economy and, 4, 32
continuous learning in, 265
cost of capital in, 19
cult of bigness in, xxi cultural differences in, 71–73
Drucker’s work in, 202–209, 266
exports of, 7, 20, 22, 23–24, 28, 64–65, 78–79
focus on employees in, 171–172
as foreign creditor, 23–24, 76–77, 79
go-betweens in, 73
government in, xxix, 156, 161–162, 268, 317
high-tech entrepreneurship in, 59
innovation in, 248
jobs in, 33, 34, 37, 70, 79, 264
labor costs in, 66–67, 112, 205
lifetime employment in, 70, 79, 165, 193–194, 205, 232
management in, 162, 164–165, 168, 171, 178–179, 186, 202, 204, 206, 258, 266, 333
manufacturing in, 13, 14, 16, 17, 54, 65, 71–73
Meiji Restoration and transition to a “modern” state by, 204, 336
oil imports by, 41
quality circles in, 67, 118, 202, 265
railroad monopoly in, 296
raw materials and industrial production in, 9, 10, 11
savings rate in, 320
Shibusawa and new business enterprise in, 153
trade policy of, 10–11, 28, 32, 79
trading companies in, 71–72, 185
unemployment in, 18, 22, 24, 25, 65, 66, 79
U.S. trade with, 7, 12, 13, 54, 75–80
wage structure in, 122, 200, 205
world trade with, 22–30, 64, 77–78
Japanese Central Bank, 28
Japanese National Railroads, 296
Japan Inc., 86
job creation
by low technology, 35
in small and medium-size businesses, 34
jobs
as property rights, 174
shrinkage of, 14, 16, 34, 37, 38, 198, 201, 317
Johns-Manville Corporation, 238, 239
Johnson, Lyndon B., 217, 314, 315
Johnson & Johnson, 139
Joseph II, Emperor of Austria, 166
J. P. Morgan & Company, 123, 151
junk bonds, 220
just-in-time inventory delivery system, 202
Kanban, 202
Kartelle, Die (Liefmann), 39, 296
Kennedy, John F., 314
Kennedy, Joseph, 268
Kettering, Charles, 259
Keynesian economic theory, 22, 31, 67
Kissinger, Henry, 57
knowledge, export of, 17
knowledge-intensive industries, 15, 310
knowledge services, 10
knowledge workers, 17, 114, 145, 173, 334
Komatsu, 54
Kommanditgesellschaft auf Aktien, 228
Kondratieff bust, 36
Kondratieff long wave, 36
Kondratieff stagnation, 36, 37
Korean War, 326
labor costs
automation and, 18–19, 66, 70, 196, 198, 201, 309
de-industrialization and, 18–20
equity capital and, 19
exchange rates and, 26
high interest rates and, 19
in Third World countries, 19, 200–201, 209, 313–214
labor-intensive industries, 15, 19, 29, 38, 313
capital formation and, 191
changing employee perceptions of, 192–194
as an estate of the realm, 191–192
executive compensation packages and, 120
in Germany, 67
productivity and, 191
wages mad. 161, 192
Langmuir, Irving, 325
lawyers, compensation for, 143
Lazard Frères, 170
Lenin, Vladimir Ilyich, 159, 330
lifetime employment, Japan, 70, 79, 165, 193–194, 205, 232
Lilienthal, David, 315
Lincoln, Abraham, 269
Lincoln Electric, 199
Lincoln Laboratory, 326
liquidity arbitrageurs, 220–221
liquidity crisis, 23
literacy, technological, 136
Lloyd George, David, 311
loans, xxi, 85, 214, 219, 220–222, 326, 328
London Eurodollar market, 20
low-tech businesses, 35, 60–62
Lufthansa, 68
macroeconomic axioms, 31
Maine, Henry, 152
Mainframe computers, 273
management
consultants, 150
graduate schools of, 150
multinational and, 48, 185–186
raiders in hostile takeovers and, 226
as social function, 154, 332–335
Management Magazin, 155
Management Today, 155
Manhattan Project, 326
Mann, Thomas, 151
manufacturing, in Japan, 13, 14, 16, 17, 54, 65, 71–73
Marlborough, Duke of, 104
Marris, Stephen, 21n
Marshall, Alfred, 89
Marshall, George C., 101–102, 104–105, 106
Marshall Plan, 84
Martin-Marietta, 215
Marx, Karl, 88–89, 92, 93, 95, 143, 331, 332, 334
Masaryk, Tomás, xxx mass and mass movements, 323, 328–331
Massey- Ferguson, 185
Mayo Clinic, 149
mechanization, 15
Medicare, 192
Meiji Restoration, Japan, 204, 336
Mellon, Andrew, 302
Merck, 244
merger boom, 242
mergers and acquisitions, 158
Mexico, 19, 28, 29, 42, 75, 200, 307
microchips, semiconductor, 10, 15
middle-tech entrepreneurship, 60, 61–62
Miller, J. Irwin, 305
Millipore, 71
mining industry, 24
Ministry of Finance, Japan, 73
Ministry of International Trade and
Industry (MITI), Japan, 73, 204–205
Mitsubishi, 72
Mitsui, 72
Mitterrand, François, 60
Modern Corporation and Private Property, The (Berle and Means), 233–234
Modern Maturity, 127
monetarism, 31
monopolies
Morgan, J. P., 123, 151, 240, 302
American versus Japanese, 47
centralization of, 45
computer usage by, 17
management jobs in, 48, 185–186
transnational systems of, 45–46, 48
mutual funds, 223
Nakasone, Yasuhiro, 79
Napoleon III, Emperor of France, 170
NASA, 326
National Cash Register Company (NCR), 47, 268, 269
National Foundation for Infantile Paralysis (March of Dimes), 325
National Health Service, United Kingdom, 318
National Recovery Administration (NRA), 316
NEC Corporation, 288
Nehru, Jawaharlal, 30
New Deal, 90, 150, 153, 160, 201, 257, 268, 305, 316, 336
New York Stock Exchange, 51
New York World’s Fair (1939), 258, 268
New Zealand, 9
Nippon Steel, 78
Nobel, Alfred, 245
no-growth organizations, 249–252
productivity and, 252
promotion versus stagnation in, 250–251
no-growth theory, 36
Norris, William C., 303–304, 305, 316, 319
no-tech entrepreneurship, 35, 59
O’Connor, Basil, 325
Olivetti, 288
OPEC (Organization of Petroleum Exporting Countries), 218
“open world economy,” 19
organization consultants, 177
Organization for Economic Development (OECD), 21n
organizations, information-based, 185–189
entrepreneurial units in, 187
responsibility and self-discipline in, 187–188
span of communications in, 186
organizations, innovative, 244–248
self-discipline in, 247
organizations, no-growth, 249–252
productivity and, 252
promotion versus stagnation in, 250–251
Orton, Dwayne, 265
parallel ladders organizational structure, 137
Parmenides, 98
Penn Square Bank, 228
defined-benefit, 223, 224, 230–231, 232
defined-contribution, 224, 230, 231, 232
as family asset, 173
managerial compensation and, 122
part-time employment and, 138
profits and contributions to, 172
raiders in hostile takeovers and, 224–225, 229, 234
retirement decision and, 126, 127
teachers and, 143
peripheral business, 52
personal computers, 273
Peru, 8
Peter Principle, 102
petroleum industry
hostile takeovers in, 218
Pfizer, 170
Phillips Industries, 62
Phillips Petroleum, 215, 218, 219, 236
Pickens, T. Boone, 215, 217–218, 219
Pigou, Arthur Cecil, 300
Pioneers, The (Cooper), 270
Plato, 234
Pompidou, Georges, 57
Porsche, 65
Port of New York Authority, 170, 171
Post Office, 296
Practice of Management, The (Drucker), xxiii, 208–209
Prairie, The (Cooper), 270
predatory pricing, 83
preindustrial population, 312, 313
preindustrial society, 307
primary-products economy, 4–11
private limited company, 228
privatization, 68
Procter & Gamble, 139
production, and adversarial trade, 81–86
progressive movement, 153
Prohibition, 330
promotion decisions
age and rank in Japan and, 71
parallel ladders and, 137
property rights, and jobs, 174
Public Interest, The, xxvii
public utility commissions, 275, 280, 282, 283, 285–286, 287, 290
quality, and automation, 187, 253–254
quality circles, 67, 117, 118, 202, 265
quotas, in trade, 84
RADAR lab, 326
raiders
corporate capitalism and, 233–234
financing by, 219–220, 222, 225
hostile takeovers and, 171, 213–214, 215, 218, 219
management’s fear of, 226
pension fund managers and, 222, 223, 224–225, 229, 234
shareholders and, 222–223, 235, 236
rank and age, in Japan, 71, 129
rapidly industrializing countries
development concepts in, 28
labor costs in, 19, 200–201, 209, 313–214
production sharing in, 29
Rathenau, Walter, 153
Reagan, Ronald, xxix, 18, 22, 27, 54, 76, 79, 281, 282, 299
redundancy, 312
regulated monopolies, 278, 294–296
reindustrializing American concept, 317
Report of the Club of Rome, The, 5, 7, 9
research labs, 47, 108, 183, 323, 324–326
retirement
compulsory, 126
employment cutbacks and, 127
Ricardo, David, 89
Richman, Tom, xxxi
robotization, see automation
Rockefeller, David, 170
Rockefeller, John D., 272, 296, 304
Rohatyn, Felix, 170
Roman Catholic Church, 104, 106, 163
Roosevelt, Eleanor, 197
Roosevelt, Franklin D., 106, 156, 160, 161, 268, 325
Roosevelt, Theodore, 149
Root, Elihu, 149
Rosenwald, Julius, 302–303, 304, 332, 336
Royal Dutch, 272
Russia, 9, 156, 178, 179, 191, 204, 327
salary structure
blue-collar workers and, 122–123, 124, 125
executive compensation and, 119, 120–125
schools, improvement in, 141–145
Schumpeter, Joseph, 37, 87–98, 296
Science, 5n
Scientific Management, 149
Sears, Roebuck, and Company, 114–115, 302, 303, 304, 332
Selective Sequence Electronic Calculator (SSEC), 259, 263
selling short, 50
shareholders, 151
Bell System breakup and, 271, 284
management and, 166
raiders and hostile takeovers and, 214, 219, 222–223, 227, 235, 237–239
Shibusawa, Eiichi, 153
Silber, John R., 132
Singapore, 29
Sloan, Alfred P., Jr., 102, 104, 106, 266
Smith, Adam, 81
smokestack industries, 25, 27, 33, 37–38, 60, 65, 120, 123, 195, 196–201
Snow, C. P., 334
social innovations, 245, 323–336
mass and mass movements, 328–331
research laboratories, 324–326
Social Security Act (1935), 257
Social Security program, 199–200, 315
Socrates, 98
Sony, 114
South Korea, xxii, 4, 9, 19, 84
span of communications, 186
Spencer, William, 170
staffing decisions
stagflation, 23
stagnation, in Kondratieff cycle, 36, 37
Stalin, Joseph, xvi, 30, 36, 156, 160, 330
Standard Oil companies, 272
Stanford, A. Leland, 302
steel industry, 14, 78, 79, 124, 142, 161, 197, 219
Steinmetz, Charles Proteus, 323–325, 326
Stigler, George, 299
stock market
acquisitions and, 243
hostile takeovers and, 213, 214, 217, 229
retirement plans and, 224, 230–231
structural change, 35
Sumitomo, 72
supervisors
age and rank in Japan and, 71, 129
automation and role of, 116–117, 185, 186
supply-side economics, 31, 67, 91
Switzerland, 82
symbol economy
Eurodollar and, 326
hard-landing scenarios in, 22–24
Schumpeter on, 95
soft-landing scenario in, 22
Taiwan, 29
Tax State, The (Schumpeter), 95
Taylor, Frederick W., 149
teachers, compensation for, 143
Teachers Insurance and Annuity Association (TIAA), 134, 232–233
technological change, 94, 305, 307
technological literacy, 136
Tennessee Valley Authority (TVA), 315
textile industry, 19
Thatcher, Margaret, 61
Theory of Economic Development, The (Schumpeter), 92
Third World countries. See rapidly industrializing countries 3M, 139, 244
Tobin, Austin, 170
Total compensation packages, 120, 200
for skilled workers in manufacturing, 143–144, 197
totalitarianism, 159
trade
complementary, 81
trading companies, 17, 72–73, 185
training programs, 116, 118, 119
Transcendentalists, 269
Truman, Harry S, 106
trusts, 151
Turner, Ted, 215
unemployment
blue-collar jobs and, 14–15, 60, 135–136
in Great Britain, 14
in Japan, 18, 24, 34, 65, 78, 79, 83
labor shortages and, 307–308, 311, 314
labor unions and, 190, 199, 200
new job creation and, 33–34, 56
severance pay and, 174
trade and, 22, 24, 25, 27, 58, 83, 84
unemployment insurance, 79, 142, 204, 335
Union Carbide, 171
United Automobile Workers, 194, 230
Universal Bank, 151
U.S. dollar devaluation, 23, 24, 25, 76–77
U.S. Post Office, 296
U.S. Steel, 124, 142, 161, 197
U.S. Treasury Department, 76
U.S. Treasury securities, 77
University of Pennsylvania, 262
venture capital, 36, 59, 61, 66
Vickers Da Costa, 71
Volkswagen (VW), 194
Voltaire, 166
voluntary quotas, in trade, 84
Wage-Hours Act (1937–38), 257
Wall Street Journal , xxvii
Waterman, Robert H., Jr., xxi, xxvi
computers designed by, 258, 259–263
foreign affiliates established by, 266–267
welfare economics, 300
West Africa, labor costs in, 19
Western Electric, 287, 288–289, 291, 293
West Germany, see Germany Westinghouse, 62
white-collar workers
blue-collar workers versus, 111, 113, 115, 255
productivity of, 111
white-collar workers versus, 111, 113, 115, 255
white knights, 214, 215, 218, 222, 225
Women’s Christian Temperance Union, 330
Wood, Robert E., 304
Works Progress Administration (WPA), 316
World Bank, 30
World’s Fair (New York, 1939), 258, 268
World War I, 94