of all the managerial men to come later, and his rise at GM symbolized the rise of the new managerial class in America, leading some to bemoan the effect upon American entrepreneurship. Fearing that talented mavericks and tinkerers were being replaced by bookkeepers and bankers, Russell Leffingwell, a partner in J. P. Morgan, warned the Senate Finance Committee in 1935 that “the growth of corporate enterprise in America has been drying up individual independence and initiative. We are becoming a nation of hired men, hired by great aggregates of capital.”
