After Managerial Capitalism
本文回顾了20世纪中期美国大公司对利益相关者负责的共识（管理资本主义），并探讨其起源与影响，对研究公司治理、企业社会责任及资本主义演变的学者有参考价值。
Corporations maximize shareholder returns—or so goes the conventional wisdom. It was not always so. In the middle decades of the last century, lawmakers, business leaders, and journalists agreed that the nation's largest and most powerful corporations had obligations to a raft of stakeholders that included (in addition to shareholders) employees, customers, and the localities in which they had set up shop. Some historians have labeled this consensus “corporate liberalism”; contemporaries called it “social responsibility.” Still others, including, most notably, Alfred D. Chandler Jr., regarded these corporate obligations as emblematic of a new stage in economic development—“managerial capitalism”—whose origins could be traced back to the railroad, the country's first “big business.” This consensus had durable consequences, as Kenneth J. Lipartito and others demonstrated in Corporate Responsibility: The American Experience (2012), a multiauthor survey of shifting assumptions regarding corporate governance in the United States from the colonial era to the present.