A
conceptual way (originated by
James Burnham in his book of this
title) to look at the power shift in
corporations.
Power was moving from the hands of the
owner to
professional managers.
The short story is that power within corporations is rapidly changing from ownership to raw control. Burnham believed that eventually management would become a force independent of the actual goals of the corporation and would pursue whatever (profitable) interest tickled their collective fancy. He associated this with a decline of interest in private property.
This theory is interesting but like all management theory impossible to prove in any meaningful way. It does make for a very funny piece of terminology, though. It makes you imagine some kind of reverse Lord of the Flies scenario where you have an island full of Piggy duplicates.