Module Note | January 2012 (Revised March 2014)

Managers and Market Capitalism

by Rebecca Henderson and Karthik Ramanna


The last thirty years have seen the widespread embrace of market capitalism as not only a highly efficient form of economic organization but also as one that best meets the diversity of human preferences. In large, complex societies, an increasing body of theoretical and empirical research suggests, however, that the existence of competitive markets rests on strong institutional foundations. This note explores the appropriate role for the general manager, if any, in sustaining these conditions for market capitalism.

Keywords: Economic Systems; Management;


Henderson, Rebecca, and Karthik Ramanna. "Managers and Market Capitalism." Harvard Business School Module Note 112-043, January 2012. (Revised March 2014.)