Phases of capitalist development
Luiz Carlos Bresser-Pereira
From chapter 1 of the book being written, After Capitalism, Democratic Managerialism. February 2021 version
The Industrial Revolution made capital the dominant production relation in entrepreneurs' capitalism; the Second Industrial Revolution and the associated organizational revolution promoted the shift from the strategic factor of production of capital to technical and administrative knowledge and made the emergence of the managerial class a definitive historical phenomenon.