way (originated by James Burnham
in his book of this title
) to look at the power shift in corporation
was moving from the hands of the owner
to professional manager
The short story is that power within corporations is rapidly changing from ownership to raw control. Burnham believed that eventually management would become a force independent of the actual goals of the corporation and would pursue whatever (profitable) interest tickled their collective fancy. He associated this with a decline of interest in private property.
This theory is interesting but like all management theory impossible to prove in any meaningful way. It does make for a very funny piece of terminology, though. It makes you imagine some kind of reverse Lord of the Flies scenario where you have an island full of Piggy duplicates.