The Russian revolution was nominally based on Communist dogma; but its significant struggle was to find some instrument by which a vast backward coun… - Adolf A. Berle

[The communist state has thus far proved itself a] brutal, blunt, and fumbling instrument, [while elsewhere capitalism has been evolving its own

In its new aspect the corporation is a means whereby the wealth of innumerable individuals has been concentrated into huge aggregates and whereby control over this wealth has been surrendered to a unified direction. The power attendant upon such concentration has brought forth princes of industry, whose position in the community is yet to be defined. The surrender of control over their wealth by investors has effectively broken the old property relationships and has raise the problem of defining these relationship anew. The direction of industry by persons other than those who have ventured their wealth has raised the question of the motive force back of such direction and the effective distribution of the returns from business enterprise.

No large concentrated stockholding exists which maintains close relationship with the management or is capable of challenging it, so that the board of directors may regularly expect a majority... to follow their lead. Thus they need not consult with anyone when making up their slate of directors... They select their own successors.