ABSTRACT
The more recent managerial oligarchy in most countries has risen from the ranks, inherited its positions, or received its education in schools of management which provide useful social contacts. The managers form a new stratum of society which has more in common with a feudal estate than with a capitalist class. The "Feudalisation" of the modern economic system does not affect top management alone. It penetrates the entire structure of most large scale corporations in both the public and the private sectors. The decline of managerial sagacity is however not the only debilitating factor which disturbs the efficient functioning of the Free Market system. The Free Market system allows individuals to find their places in society on the basis of competitive ability. Thieves, swindlers, embezzlers, hold-up men, forgers, extortionists, and the rest of that ilk were excluded from free enterprise society.
