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Corporations vary widely around the world, yet our understandings of “the corporation” have been decisively influenced by the peculiar American version, with dispersed shares traded on a stock exchange and a matrix of institutions orienting them toward the North Star of share price. Moreover, even as this American model has shaped the terms of debate around the corporation, it no longer operates in its ancestral homeland, where ownership is increasingly concentrated, assets and employment are increasingly dispersed, and corporations are disappearing from the stock market. In this afterword, I underscore some themes from the articles in this volume and suggest some thoughts on research and theory in an increasingly post-corporate world.

Ubiquitous information and communication technologies are radically changing what organizations look like, and in many cases rendering formal organizations unsustainable. As ongoing organizations are replaced by supply chains and pop-up enterprises, we face renewed philosophical questions around ontology (what counts as a “firm?”), epistemology (can organizations know things?), and ethics (who can and should be held responsible in a world of dispersed enterprise?). Organization theorists have a number of advantages in helping construct both new theories and new institutions to help channel the economic forces unleased by ICTs for human benefit.

This chapter reviews the origins and primary arguments of resource dependence theory and traces its influence on the subsequent literatures in multiple social science and professional disciplines, contrasting it with Emerson's power-dependence theory. Recent years have seen an upsurge in the theory's citations in the literature, which we attribute in part to Stanford's position of power in the network of academic exchange. We conclude with a review of some promising lines of recent research that extend and qualify resource dependence theory's insights, and outline potentially fruitful areas of future research.

This chapter analyzes the relations among bank mergers, changes in boards and their networks, and changes in the global footprint of merging banks. We examine all mergers involving U.S. banks with foreign branches between 1986 and 2004. We find that while the largest banks have become even larger through mergers, their boards have stayed roughly the same size with the same pattern of connections, leaving banks relatively less central in the intercorporate network. And while global banks previously had more globally oriented boards, this is no longer the case, as the link between board networks and strategy has become more tenuous. Because global banks were particularly prone to merging, the average commercial bank in the U.S. is now far more domestically oriented than firms in most other industries. American banks have thus become more domestic at the same time that the rest of American industry has grown much more global.

The economic crisis that began in 2008 represents the end of two experiments in social organization in the United States: the corporate-centered society, in which corporate employers were the predominant providers of health care and retirement security, and the “Ownership Society,” which aimed to vest the economic security of individuals directly in the financial markets. The first experiment lasted for most of the 20th century, while the second hardly got off the ground before imploding. The result is that economic and health security and social mobility in the United States have become increasingly unmoored. Organizational sociologists can contribute to a constructive solution by facilitating, documenting, and disseminating locally based experiments in post-corporate social organization.

Analysis of organizational decline has become central to the study of economy and society. Further advances in this area may fail however, because two major literatures on the topic remain disintegrated and because both lack a sophisticated account of how social structure and interdependencies among organizations affect decline. This paper develops a perspective which tries to overcome these problems. The perspective explains decline through an understanding of how social ties and resource dependencies among firms affect market structure and the resulting behavior of firms within it. Evidence is furnished that supports the assumptions of the perspective and provides a basis for specifying propositions about the effect of network structure on organizational survival. I conclude by discussing the perspective’s implications for organizational theory and economic sociology.

Analysis of organizational decline has become central to the study of economy and society. Further advances in this area may fail however, because two major literatures on the topic remain disintegrated and because both lack a sophisticated account of how social structure and interdependencies among organizations affect decline. This paper develops a perspective which tries to overcome these problems. The perspective explains decline through an understanding of how social ties and resource dependencies among firms affect market structure and the resulting behavior of firms within it. Evidence is furnished that supports the assumptions of the perspective and provides a basis for specifying propositions about the effect of network structure on organizational survival. I conclude by discussing the perspective's implications for organizational theory and economic sociology.

Our volume is comprised of six sections: (1) the crisis; (2) its similarities to, and differences from being a “normal accident;” (3) sociological and historical explanations for the meltdown; (4) analyses of comparable speculative bubbles and business cycles; (5) international parallels and consequences; (6) analysis of how we might approach the future development of society and economy; and also a section of postscripts for looking ahead to future policy and prevention. Each contribution addresses its main topic, and concludes with practical policy recommendations for a better future.