Concentrated market power and the weakened sway of corporate stakeholders over management have emerged as leading concerns of American political economy. Samuel Milner provides a historical context for contemporary efforts to resolve these anxieties by examining the contest to control the distribution of corporate income during the mid-twentieth century. During this "Golden Age of American Capitalism," apprehension about the debilitating consequences of industrial concentration fueled efforts to ensure that management would share the fruits of progress with workers, consumers, and society as a whole. Focusing on wage and price determination in steel, automobiles, and electrical equipment, Milner reveals how the management of concentrated industries understood its ability to distribute income to its stakeholders as well as why economists, courts, and public policymakers struggled to curtail the exercise of that market power at its source.

The 1940s were a pivotal decade in the history of the American labor movement. Large migrations significantly changed the composition of the industrial work force while, simultaneously, the organized labor movement sought to consolidate its base. These essays examine topics including aspects of the institutional development of the labor movement at the national level, while west coast case studies explore the conflicts generated at the workplace and in communities by the increased presence of women and minority workers. American labor historians and labor studies specialists will find this collection fills a major void in the research on American labor.