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Shredding PaperThe Rise and Fall of Maine's Mighty Paper Industry$
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Michael G. Hillard

Print publication date: 2021

Print ISBN-13: 9781501753152

Published to Cornell Scholarship Online: May 2021

DOI: 10.7591/cornell/9781501753152.001.0001

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The Detroit of Paper

The Detroit of Paper

(p.1) Introduction The Detroit of Paper
Shredding Paper

Michael G. Hillard

Cornell University Press

This chapter covers stories of how workers accommodated and rebelled against their employers, showing how the broader forces of capitalism were at work in changing the character of Maine's companies. It presents an understanding of the nature and ultimate fate of one of U.S. capitalism's lesser-chronicled industries, paper. It also examines profound changes in corporate governance in terms of the institutional forms of ownership and management. The chapter uses Maine companies as examples of the managerial era of corporate governance, where company leaders shared profits with stakeholder constituencies, their workforces, and paper mill communities. It refers to paper mill managers who directed resources into capital and technology investments to sustain the competitive strength of their companies over the longer term.

Keywords:   capitalism, Maine, U.S. capitalism, corporate governance, managerial era, paper mill

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