The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems
指出自1973年以来，技术、政治、监管和经济力量正引发类似19世纪工业革命的全球变革，导致企业内控系统在应对缓慢增长和退出需求时失效，对西方企业和政治体系构成挑战。
ABSTRACT Since 1973 technological, political, regulatory, and economic forces have been changing the worldwide economy in a fashion comparable to the changes experienced during the nineteenth century Industrial Revolution. As in the nineteenth century, we are experiencing declining costs, increasing average (but decreasing marginal) productivity of labor, reduced growth rates of labor income, excess capacity, and the requirement for downsizing and exit. The last two decades indicate corporate internal control systems have failed to deal effectively with these changes, especially slow growth and the requirement for exit. The next several decades pose a major challenge for Western firms and political systems as these forces continue to work their way through the worldwide economy.