“In modern industry the managerial groups in many areas rise to a position more significant than that of the owners or the workers. Decision often rests largely in their hands, providing, of course, they are able to point to a generous measure of financial success in their particular enterprise. Wages to the workers, profits to the owners, prices and goods to the consumers--these are allocated in great measure by the managers of the concern and tolerated on the terms just stated.”

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Originally said in English.

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About Charles Edward Merriam

Charles Edward Merriam is quoted here; further biographical details are not publicly available.

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