Post-Capitalist Society

Rating:
Summary: Packed with insight-Unfortunately not packed with references
Review: Drucker is masterful in his integration of business, history and social sciences. This book covers technology, the rise of management and social trends. A great read - my only hesitation is where is the bibliography?

The thesis of the book is that Marx was wrong. The major owner of capital and thus companies are now pension and mutual funds. Thus workers - primarily knowledge workers now are the main owners of companies. There are a couple of flaws in his argument though.

The biggest winners in the current US stock market system aren't the pension funds - its managers and people who start companies or take them public. There is the rise of hidden perks to senior managment - stock options that are essentially free for the managers.

Drucker argues that this is all small peanuts compared with Morgan or Rockefeller.

Other points he makes:

1) Agriculture declined to 2-3% of the workforce. Manufacturing will see a similar declining to 10-15% of the workforce

2) Knowlege workers are more like members of an orchestra. The conductor could never replace the viola players.

3) He forecasts the decline in the Nation state. Governments are driven by pork barrel politics.

Rating:
Summary: an understanding of modern society
Review: drucker understands the politico-economic realities that drive us all nuts, but he measures it up with magnanimity. the knowledge society--for a knowledge worker his description can actually be somewhat humbling. no more comparing yourself to the laborers as if you've risen above. you depend on others for your living and various forces work against you. i love the way drucker shrugs off government stupidity. he sees through all the hype and hubris, but neither complains nor lectures. ok, sometimes he's a bit dry or bombastic. the originator of the business book style, so cut him some slack.

Rating:
Summary: An Aberrating Capitalism
Review: When I saw this book, I thought it would give real insight into the future of economics. Because I have a strong knowledge of economics and management theory, I found this book to be rather dry. The title seems to suggest a major change in the structure of economics. I would suggest a more appropriate title of this book would be, "An Aberrating Capitalism".

Drucker's theory is based on the idea that manual labor is declining. To replace it, people will have to have a knowledge needed by employers. In effect, they will be selling their knowledge to the employer. Gone are the industrialists like J.P. Morgan and Andrew Carnegie. In there place are no-name managers, people of knowledge. The structure of the economy has certainly changed in the last hundred years. However, I am not sure the change is so drastic as to label the birth of a new capitalism. If Drucker wants to call this new era "Post-Capitalism", it is still "Capitalism" by definition.

I suspect this book is a useful tool for additional reading in college economics courses and advanced high school social studies courses. I found nothing about the book particularly enriching.