The Company

February 3, 2003
Considering the astounding impact companies have had on every corner of civilization, it's amazing that the development of the institution has been largely unexamined. Economist
editors Micklethwait and Wooldridge present a compact and timely book that deftly sketches the history of the company. They trace its progress from Assyrian partnership agreements through the 16th- and 17th-century European "charter companies" that opened trade with distant parts of the world, to today's multinationals. The authors' breadth of knowledge is impressive. They infuse their engaging prose with a wide range of cultural, historical and literary references, with quotes from poets to presidents. Micklethwait and Wooldrige point out that the enormous power wielded by the company is nothing new. Companies were behind the slave trade, opium and imperialism, and the British East India Company ruled the subcontinent with its standing army of native troops, outmanning the British army two to one. By comparison, the modern company is a bastion of restraint and morality. In a short, final chapter on the company's future, the authors argue against the fear, in antiglobalization circles, that "a handful of giant companies are engaged in a 'silent takeover' of the world." Indeed, trends point toward large organizations breaking into smaller units. Moreover, the authors argue that for all the change companies have engendered over time, their force has been for an aggregate good. Agent, Andrew Wylie.

November 1, 2002
Two Economist staffers explain how the joint-stock company became today's corporate giant.

Copyright 2002 Library Journal, LLC Used with permission.

February 15, 2003
The authors, both business magazine editors, trace the rise of the company, which they contend is the most important organization in the world, its only rival being the family. Companies began as we know them in Great Britain in 1862 with the Great Companies Act, and were copied in many countries, entrepreneurs having the confidence to raise money knowing that investors could only lose what they had put in. We learn that the company's past is often more dramatic than its present; in general, companies have become more ethical, more honest, more humane, and more socially responsible than in past eras; and the company has been one of the West's great competitive advantages. The company has changed the way that people behave, and its secret to success is its ability to evolve, currently becoming less corporate by breaking down into smaller entrepreneurial units; in their power struggle with governments, companies are winning. The authors conclude that "the foremost contribution of the company to society has been through economic progress."(Reprinted with permission of Booklist, copyright 2003, American Library Association.)