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In this context many management fads might have had more to do with pop psychology than with scientific theories of management. Classical economists such as Adam Smith (1723–1790) and John Stuart Mill (1806–1873) offered a theoretical background to useful resource allocation, production , and pricing points. About the same time, innovators like Eli Whitney (1765–1825), James Watt (1736–1819), and Matthew Boulton (1728–1809) developed components Community driven project of technical manufacturing similar to standardization, quality-control procedures, cost-accounting, interchangeability of components, and work-planning. Many of those features of administration existed within the pre-1861 slave-based mostly sector of the US financial system.

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