The Visible Hand

The Visible Hand: The Managerial Revolution in American Business is a book by American business historian Alfred D. Chandler Jr., published by the Belknap Press imprint of Harvard University Press in 1977. Chandler argues that in the nineteenth century, Adam Smith's famous invisible hand of the market was supplanted by the "visible hand" of middle management, which became "the most powerful institution in the American economy".The Visible Hand was awarded the 1978 Pulitzer Prize for History and the Bancroft Prize of Columbia University.