Rating: 
Summary: Grossly Inaccurate
Review: "The Company" is a complete joke only necessary for those requiring extreme doses of self-delusional western imperial indoctrination (similarly to the last ridiculous poli-econ book I read, "In Defense of Global Capitalism"). But then as the U.S. is experiencing "imperial implosion" (my term) burying one's head in the sand does provide momentary bliss. My "dissident" views are in common with the struggling masses of the world -- the involuntary recipients of western imperialism -- as demonstrated recently at Cancun. Even though the highly literate (i.e. indoctrinated) Twin Cities, Minnesota is still completely ignorant (and blissful) about the consequences of Cargill, the rest of the world has spoken clearly in Cancun. The Cancun action is just the latest action by a continuous 500 year majority view that was INACCURATELY glossed over by "the Company." (just read Professor Noam Chomsky's "Year 501: The Conquest Continues." Chomsky is a best-seller in Canada, Europe and Latin America -- similarly to the less scholarly Michael Moore's "Stupid White Men" that has rapidly sold 4 million copies. Chomsky was the key-note speaker at the World Social Forum in Rio a few years book. The gathering was representive of the vast majority position) Joint-stock companies DID NOT "uncover the wealth" of Latin America, Africa and Asia as claimed in one particularly key sentence in "the Company." (To continue my example, the Twin Citie's Cargill currently replacing the Amazon rainforest with soybean farms is not "uncovering the wealth" of Latin America). With such gross inaccuracies in "the Company," this book might as well state that the U.S. corporate-state funded holocaust did not happen -- a neo-fascist position that more accurately categorizes the true nature of "the Company."
I have already successfully critiqued similar views in constructive venues that have produced positive change. Of course I had to be subjected to repression by force because the corporate-state elite do not like to have to examine the facts, especially when presented in a calm, rational manner. Since I was well-aware of their positions because of my upbringing, I represent one of the few cases that made some slight progress in an otherwise apocalyptic scenario (again well-recognized by the vast majority who live in areas whose wealth has been "uncovered" by the joint-stock "revolution").
Please realize that I'm already surrounded by corporate-state propaganda, while if I walk down the sidewalk with a sign for social justice I'm threatened by the corporate-state protection racket.
"The Company" is extremely irresponsible (for example dismissing the Corn Law Repealers without even mentioning the "free market" genocidal conditions in Ireland). Those who feel complimented by "the Company" should read Noam Chomsky's "World Orders, Old and New" (Columbia University Press). But then remaining ignorant of what's happening on the ground-floor is one of the luxuries of brown-nosers who hide behind big daddy's guns aimed at the innocent children of the world.
Rating: 
Summary: Stimulating, If Basically Light, Reading
Review: * THE COMPANY, by John Micklethwait and Adrian Woolridge, is a brief
historical survey of the evolution of the concept of the corporate
organization. Partnerships and shareholding are concepts that go back a long time.
One of the most prominent of the "pre-modern" corporations was the
British East India Company, established by royal charter to control
trade with India, in fact becoming the effective government of India
for a time. However, the modern company didn't really arise until the
last half of the 19th century. Corporations before that time had existed under specific government
charters, and it took some time for governments to become comfortable
with the notion that any group of people who wanted to form a
corporation could do so without explicit state approval, being
required only to meet a simple set of rules that applied to all. It
also took time to become comfortable with the notion of "limited
liability" -- that is, the now completely accepted notion that
stockholders who buy stock in a company may lose their stock, but will
not be liable for a company's debts. Starting from that point, THE COMPANY goes on to describe the rise of
the modern corporation, particularly the rise of the US companies
during the period of "robber baron" capitalism up to the First World
War, and contrasting that with the corporate styles of other nations.
Britain, which had pioneered the legal mechanisms establishing the
modern corporation, lagged behind because of a social snobbery against
commerce, while Germany and Japan harnessed corporate energies into
service for the state. The book then traces the evolution of the American corporate concept
of the 1950s and 1960s -- when the world seemed dominated by the likes
of GM, IBM, and Coca-Cola -- and how rapid changes in technology
undermined, though by no means crippled, the power of the major
corporations during the rest of the century. It concludes by
examining recent corporate scandals and the controversy over
multinational corporations and "globalism". * Both the authors are staffers for the British ECONOMIST magazine,
and THE COMPANY reflects that to the point of generally seeming to be
an expanded ECONOMIST essay. This is not really a complaint, however.
Yes, it does come on as sketchy in places, and sometimes a bit glib.
I spent almost two decades working for a major corporation, and it
seems a bit funny to see a book discussing such places in a sanitized
fashion when anyone who's been stuck in one for a long time suspects
that a realistic book on how a big corporation works would have to be
written by Kafka and illustrated by Dali. (Ah, but things always look
different close up.) THE COMPANY certainly reflects the ECONOMIST's enthusiastic boosterism
of capitalism, and of course the reader is given an almost obligatory
defense of globalism -- but a measured one, admitting that though the
Left may be loony at times, they still have a few valid points and
concerns. In any case, overall this is a fun little book to read,
lively and entertaining, even worth some rereading, though in
the end it's basically casual reading.
Rating: 
Summary: Useful descriptive account but normatively disappointing
Review: Although I would recommend this text to generalist readers seeking a (remarkably) concise introduction to history of the business corporation, I came away somewhat disappointed. There is little doubt Micklethwait and Wooldridge are correct in their claim that the corporation is now the key economic institution in Western nations. Yet, it did not have to turn out that way. As Micklethwait and Wooldridge usefully remind us, two centuries ago, leading business and economic thinkers (including the great Adam Smith) derided the joint stock company. What explains the relatively rapid development in the mid-19th century of a recognizably modern corporation and, in turn, that entity's emergence as the dominant form of economic organization? Micklethwait and Wooldridge offer a fairly conventional answer to that question, based largely on new technologies -- especially the railroad -- requiring vast amounts of capital, the advantages such large firms derived from economies of scale, the emergence of limited liability that made it practicable to raise large sums from numerous passive investors, and the rise of professional management. Readers familiar with the work of business historian Alfred Chandler will find relatively little new in this part of the story, although Micklethwait and Woolridge's treatment has the advantage for generalist readers of being considerably more accessible than is most of Chandler's work. Instead of offering any novel historical analysis, Micklethwait and Wooldridge's principal potential contribution (albeit one they failed adequately to realize) is the normative thesis to be derived from the historical account. In their introduction, Micklethwait and Wooldridge's lay out a claim that will be familiar to readers of Michael Novak's work (surprisingly, however, they seem unaware of his seminal work). Like Novak, Micklethwait and Wooldridge argue not only that the corporation is one of "the West's great competitive advantages," but also that the number of private-sector corporations a country boasts is a relatively good guide to the degree of political freedom it provides its citizens. (xx) Unfortunately, this insight goes nowhere. The normative claim is entirely plausible. The rise of modern corporations did more than just expand the economic pie. The legal system that facilitated their rise necessarily allowed individuals freedom to pursue the accumulation of wealth. Economic liberty, in turn, proved a necessary concomitant of personal liberty-the two have almost always marched hand in hand. In turn, the modern public corporation has turned out to be a powerful engine for focusing the efforts of individuals to maintain the requisite sphere of economic liberty. Those whose livelihood depends on corporate enterprise cannot be neutral about political systems. Only democratic capitalist societies permit voluntary formation of private corporations and allot them a sphere of economic liberty within which to function, which gives those who value such enterprises a powerful incentive to resist both statism and socialism. As Michael Novak has observed, private property and freedom of contract were indispensable if private business corporations were to come into existence. In turn, the corporation gave liberty economic substance over and against the state. Regrettably, after laying it out, Micklethwait and Wooldridge fail to pursue this thesis. Instead, their book lapses into a rather sterile historical description.
Rating: 
Summary: Brief of Length But Offering Great Depth and Broad Scope
Review: Here we have an examination of what seems to be, at first glance, a less-than-exciting subject: the limited-liability joint-stock company. Ah, but that first impression is soon proven false by what indeed is a fascinating, at times riveting (albeit brief) history of what Micklethwait and Wooldridge correctly suggest has been and remains, since the Companies Act of 1862, "the basis of the prosperity of the West and the best hope for the future of the world." Soon becoming the single most powerful economic power, the limited-liability joint-stock company combined the three big ideas behind the modern company: "that it could be an artificial person," with the same ability to do business as a real person; that it could issue tradable shares to any number of investors; and that those investors could have limited liability (so they could lose only the money they had committed to the firm)." Although Micklethwait and Wooldridge do indeed provide "a short history of a revolutionary idea," their book is remarkably comprehensive as it traces the evolution of commercial structure from merchants and monopolists (3000 B.C. -- 1500) through imperialists and speculators (1500-1750) and the "prolonged and painful birth" of the limited-liability joint-stock company (1750-1862) before shifting their and the reader's attention to the rise of big business in America (1862-1913), the rise of big business in Britain, Germany, and Japan (1850-1950), the triumph of managerial capitalism (1913-1975), and what they characterize as "the corporate paradox" (1975-2002) before examining "agents of influence: multinationals (1850-2002) in the final chapter. All this, and done very well indeed, in less than 200 pages! For those interested in further study of any/all of the periods and subjects they discuss, Micklethwait and Wooldridge provide an exceptionally informative "Bibliographic Note" section, followed by all of the footnotes in which additional recommendations are included. Congratulations to Micklethwait and Wooldridge on what I consider to be a brilliant achievement, one which combines scholarship of the highest order with narrative skills worthy of Austen, Thackeray, and Dickens.
Rating:
Summary: simple and brief
Review: quick read on the history of the firm in general. recounts milestones and significant events as well as some interesting anecdotes of which many would be known to the general historian and some more that may not. i was expecting more analysis but given the quality of the data (that was extremely well-cited in terms of sources) its a very good value.
Rating:
Summary: Bold thesis
Review: Sweeping history of the corporation in a very short concise book. For many, I think just the history of the corporation would make this book worthwhile. Their claims about the importance of the corporation in world history represent a bold thesis, but the authors provide evidence not only over time but across countries and show why the different forms of corporations allowed some countries to advance faster than others.
Rating:
Summary: Bold thesis
Review: Sweeping history of the corporation in a very short concise book. For many, I think just the history of the corporation would make this book worthwhile. Their claims about the importance of the corporation in world history represent a bold thesis, but the authors provide evidence not only over time but across countries and show why the different forms of corporations allowed some countries to advance faster than others.
Rating:
Summary: The Triumphalist History of the Company
Review: The authors, John Micklethwait and Adrian Wooldridge, have squeezed 5,000 years of business history into The Company (A Short History of a Revolutionary Idea), the newest addition to the important series, Modern Library Chronicles. I approached this particular edition was some trepidation as the subject matter seemed a little dry (there is, after all, a chapter called "The Triumph of Managerial Capitalism".) The book is more interesting than expected and is written with some humour as well as a certain amount of patience for the less business informed reader. The strong caveat, though, is that the authors do stress the triumph of the company in creating everything that is good in the world, making their case less often then I suspect they wanted to. They are honest about the bad, such as the Belgian Congo and Enron, but try to make clear that positives exist with enormous negatives. Trying to find a positive in the holocaust of the Congo is not, in fact, possible but the authors cheerfully give it a shot. Despite their obvious boosterism, this is an interesting book and a worthwhile introduction to one side of an argument.
Rating: 
Summary: Amusing reading, not to deep
Review: The company is a fun little book for someone who wishes to understand the contribution of such entities to the creation of wealth in the modern world. It is not a thesis and it doesn't pretend to be one. It is basically a recollection of historical data starting from the fenician merchants and ending with the current anti globalization movement. However, beside the historical data and some insight into the views of the authors, the book doesn't ellaborate to much into any particular thesis. It is not a pertentious book but a fun one to read on a weekend.
Rating:
Summary: Companies made interesting
Review: There are few creatures more vilified in today's world than corporations. For some, companies are the instruments of evil, they exist to profit at the expense of ordinary people, and their chief executives are defamed for their greed and ambition. All the same, most people live off the checks they receive from those evil beasts; and, being the CEO of a large company offers comparable prestige with other esteemed professions. Wrestling with these competing images of corporations is part of what "The Company" aims at. John Micklethwait and Adrian Wooldridge, both of The Economist, embark on an ambitious project to show that the corporation lies at the heart and center of organized societies-more so than the state, the commune, the political party, the church, and others. Having put modesty aside, the authors deliver on their promise with great skill, both literary and scholarly. All pervasive in their narrative is a deep sense of historical perspective-of contrasting the companies of today with those of the past. This need of putting the present in context is extremely valuable in canvassing the role that corporations (and particularly multinationals) play in the world today. Several themes emerge in this historical journey. The first is the evolution of the company itself through a continuous political debate about its role and place in society. A second charts the different attitudes that societies have had towards companies; in particular the authors focus on the United States, Britain, Germany and Japan. At the heart of this book is the dialectic between society and company; the Virginia Company, for example, effectively introduced democracy in America in 1619. This helps explains why Americans have been more receptive to companies that have other countries. This is one of countless examples in the book that chronicle the immense impact that companies have had the world over. "The Company" not only explains the historical arguments that have been front and center of the debate about the role that companies should play, but it also captures the timeless forces that have shaped, and are likely to keep shaping, the debate in the future. Certainly a book no one would like to miss.
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