Theory of Managerial Revolution, a modern theory of bourgeois economics, component of the theory of people’s capitalism (see Theory of People’s Capitalism). Its forerunners were the bourgeois sociologists A. Comte and T. Veblen, who predicted an era when technical experts would play the leading role in society. The theory was evolved in the book Managerial Revolution (1941) by the American philosopher J. Burnham. He believed that as capitalist production expands, the class of capitalists becomes increasingly isolated from direct economic activities and management of enterprises. The functions of organising and managing the economic and, then, the whole life of society are gradually assumed by a new social stratum, the managers, a sector of the broad working masses. Step by step the governing of society becomes increasingly similar to management of a large-scale’mechanised production. This new social stratum has social good and not profit as its ultimate goal. Therefore the gradual ousting of capitalist owners and the increasing role of the 365 technocrats, or managers, will result in a change in the nature of the entire social order. The best example of the society of the future was, according to Burnham, nazi Germany, which was inevitably to be followed by Japan and the USA. The theory of managerial revolution incorrectly opposes the managers of capitalist enterprises to the capitalist class itself. In reality, top management is an integral part of the capitalist class; many managers have financial interests in the companies. The managers and other top executives of capitalist enterprises serve the bourgeoisie as organisers of production and of extracting surplus value. The theory of managerial revolution is a flagrant example of the vindication of modern capitalism, which is represented as a system of general welfare.