The managerial revolution therefore consists in the protracted social and political process by which the emerging new managerial class displaces the old ruling class of traditional capitalist or bourgeois society.

On the cultural and ideological level the struggle between the ascending managerial ruling class and the declining bourgeois-capitalist class has taken the form of the conflict between what emerged as the principal managerial ideology in the United States and the Western world, which has generally come to be known as “liberalism,” and the main ideology of the old capitalist elite, which came to be known as “conservatism.”