A Five Books Best Economics Book of the Year
A Politico Great Weekend Read

“Absolutely compelling.”
—Diane Coyle

“The evolution of modern management is usually associated with good old-fashioned intelligence and ingenuity…But capitalism is not just about the free market; it was also built on the backs of slaves.”
—Forbes

The story of modern management generally looks to the factories of England and New England for its genesis. But after scouring through old accounting books, Caitlin Rosenthal discovered that Southern planter-capitalists practiced an early form of scientific management. They took meticulous notes, carefully recording daily profits and productivity, and subjected their slaves to experiments and incentive strategies comprised of rewards and brutal punishment. Challenging the traditional depiction of slavery as a barrier to innovation, Accounting for Slavery shows how elite planters turned their power over enslaved people into a productivity advantage. The result is a groundbreaking investigation of business practices in Southern and West Indian plantations and an essential contribution to our understanding of slavery’s relationship with capitalism.

“Slavery in the United States was a business. A morally reprehensible—and very profitable business…Rosenthal argues that slaveholders…were using advanced management and accounting techniques long before their northern counterparts. Techniques that are still used by businesses today.”
—Marketplace

“Rosenthal pored over hundreds of account books from U.S. and West Indian plantations…She found that their owners employed advanced accounting and management tools, including depreciation and standardized efficiency metrics.”
—Harvard Business Review

More than we ever anticipated, alliances among firms are changing the way business is conducted, particularly in the global, high-technology sector. The reasons are clear: companies must increasingly pool their capabilities to succeed in ever more complex and rapidly changing businesses. But the consequences for managers and for the economy have so far been underestimated. In this new book, Benjamin Gomes-Casseres presents the first in-depth account of the new world of business alliances and shows how collaboration has become part of the very fabric of modern competition.

Alliances, he argues, create new units of competition that do battle with one another and with traditional single firms. The flexible capabilities of these multi-firm constellations give them advantages over single firms in certain contexts, offsetting the advantage of a single firm's unified control. When managed effectively, alliances can strengthen a firm's competitive advantage and narrow the gap between leading firms and second-tier players. This often results in intensified rivalry, and the competition within an industry is transformed. Alliances often spread swiftly through an industry as firms jockey for advantage. Yet the very spread of alliances increases their costs and poses new limits on their use. Gomes-Casseres concludes that firms need to manage their constellations to enhance collaboration within their groups, while raising what he calls "barriers to collaboration" for rivals.

These ideas are developed and illustrated through original case studies of alliances among U.S., Japanese, and European firms in electronics and computers, including Xerox, IBM, and Fujitsu as well as other small and large companies. The book should be of interest to business academics, managers, and general readers concerned with contemporary capitalism.

Public administration has evolved into an extraordinarily complex form of governance employing traditional bureaucracy, quasi-government public organizations, and collaborative networks of nongovernmental organizations. Analyzing and improving government performance—a matter of increasing concern to citizens, elected officials, and managers of the organizations themselves—has in turn become a much more fraught undertaking. Understanding the new complexities calls for new research approaches.

The Art of Governance presents a fresh palette of research based on a new framework of governance that was first developed by coeditor Laurence E. Lynn, Jr., with Carolyn J. Heinrich, and Carolyn J. Hill in their book, Improving Governance: A New Logic for Empirical Research. That book identified how the relationships among citizens, legislatures, executive and organizational structures, and stakeholders interact, in order to better diagnose and solve problems in public management.

This volume takes that relational concept into new realms of conceptualization and application as it links alternative institutional and administrative structures to program performance in different policy areas and levels of government. Collectively, the contributors begin to paint a new picture of how management matters throughout the policy process. They illuminate how, at different levels of an organization, leadership and management vary—and explore both the significance of structural systems and the importance of alternative organizational forms for the implementation of public policies.

The Art of Governance shows that effective governance is much more complex than paint-by-number. But if the variety of forms and models of governance are analyzed using advanced theories, models, methods, and data, important lessons can be applied that can lead us to more successful institutions.