"Earlier writers have recognized that economic activity is only in part trading and that the element of administration enters in, but they have tended to minimize this administrative aspect. The modern corporation has not only increased this aspect by bringing a greater part of economic activity within the administrative limits of single units, has altered the character of the market by making price not an outgrowth of trading but of administration."
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Gardiner C. Means
Gardiner Coit Means (June 8, 1896 – Feb. 15, 1988) was an American economist, government advisor and researcher, who worked at the . At he had met lawyer-diplomat Adolf Berle, and together they wrote the seminal work of corporate governance, The Modern Corporation and Private Property (1932).
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