"New Princes" for Old? The Large Corporation and the Capitalist Class in Chile

Abstract

This is a study of the ownership and control of the 37 largest corporations in Chile in 1964-66. Using the method of Berle and Means, we found a pattern of "management-control" in Chile similar to the one they found in the United States. However, our method, employing the concepts of "kinecon group" and "intercorporate control," reveals that all but one of the 15 ostensibly "management-controlled" corporations were actually controlled by specific proprietary interests. Analysis of this one management-controlled corporation also does not support prevalent inferences concerning the impact of management-control on class structure. We present a new paradigm for the analysis of the control of large corporations.