The twentieth century was the managerial century in the United States. An organizational transformation, from entrepreneurial to managerial capitalism, brought forth what became a dominant narrative: that administrative coordination by trained professional managers is essential to the efficient...

By way of presenting an ahistorical fictitious story, this paper is ment to illustrate that: - in contrast to conventional wisdom, trade unions, in their symbiosis with capitalist firms, may further rather than impede price-mediated self-regulation in the labour market via their involvement in...