A useful reminder, by Mark Roe, of his well-known analysis of modern American capitalism.
“When it comes to capitalism vs. socialism, we know which side the US is on. But when it’s managers vs. capital-owners, the US is managerialist, not capitalist.”
A comment: Continental European systems are, of course, also managerialist, but on top of that they are corporatist, that is, are characterized by a deep collusion of business and administrative-political elites, an extreme version of that type of system being non-european but Japanese.
Read his post here.
For further references look here.