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in-visible hand

The Visible Hand

The Visible Hand is a business book by Alfred Chandler with the sub-title The Visible Hand: The Managerial Revolution in American Business (Belknap Press 1977). The title is a play on Adam Smith's famous notion of the Invisible hand.

Chandler (1977) described the emergence the managerial layer of the firms, who could extend its domain of action by sheer desire to exploit the newfound efficiency to domains of action for which it had not be designed for nor instructed to.

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