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In this theoretical, empirical and occasionally speculative paper we argue that human interaction is the critical source of intangible value in the intellectual age. This argument is supported with some perceptual evidence on the dimensions of intellectual capital (IC) from the Irish ICT sector. Key findings are that almost two thirds of organizational value is perceived to be intellectual and that half of this IC value is perceived to stem directly from the people dimension. Drawing on the system/lifeworld distinction in Habermas’ Theory of Communicative Action we claim that the dominant tenets of market and hierarchy are changing in both nature and scope in an increasingly knowing‐intensive economy. We argue strongly that these tenets must be complemented with ideas of community and lifeworld that place human interaction at the center of a more enlightened economic and social equation.

Purpose – This paper investigates the effects of founding, growth, decline, and merger on gender differences in managerial career mobility. These common events create and destroy many jobs, and so have big impacts on managers’ careers. We build on previous research to predict gender differences in job mobility after such events, and show that these gender differences are moderated by the positions managers occupy: level, firm size, and sex composition.

Methodology – We test our predictions using archival data on all 3,883 managerial employees in all 333 firms in the California savings and loan industry between 1975 and 1988. We conduct logistic-regression and event-history analyses.

Findings – Female managers are less likely than male managers to be hired when the set of jobs expands because of founding and growth, and more likely to exit when the set of jobs contracts because of decline and merger. These gender differences exist because relative to men, women occupy lower-level jobs, work in smaller firms, and work in firms with more women at all managerial ranks. The effects of all but one event (the growth of one's own employer) are moderated by managers’ positions.

Value of the paper – Our paper is the first to offer a large-scale test of gender differences in career trajectories in the wake of common organizational events. By showing that these market-shaping events affect male and female managers’ careers differently, and that these effects depend on the positions of male and female managers, we demonstrate economic sociology's potential for studying inequality.