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Cliques of Legitimizing Leaders

In: Cliques and Capitalism

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  • Deborah E. Lange

Abstract

This chapter will discuss the second most critical aspect of the American firm model presented earlier that contributed to the financial crisis; the linchpin was described in the last chapter, being the financial or stock market bureaucracy. Second, cliques of legitimizing leaders, the senior management teams together with boards of directors that “lead” firms are culpable in the recent disaster and the demise of large firms, in general, more for what they do not do rather than for what they do. Leadership has been extremely weak.

Suggested Citation

  • Deborah E. Lange, 2011. "Cliques of Legitimizing Leaders," Palgrave Macmillan Books, in: Cliques and Capitalism, chapter 0, pages 129-137, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-01619-5_9
    DOI: 10.1057/9781137016195_9
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