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Organizational approaches can help to make sense of social phenomena, including inequality, politics, and culture. This is partly because large organizations exercise great power, both over employees and in their external environments. Revising Charles Perrow's classic account of the “society of organizations” in the 20th century, we argue that the organizational landscape has changed. There has been a dis‐embedding of individuals from organizations that contrasts with Perrow's idea of individuals being “absorbed” by organizations. Despite this hollowing out, there is a persistence of concentrated economic power or “concentration without centralization.” Organizational power in this landscape is increasingly exercised at a distance, not only geographically but also in the sense of moving across organizational boundaries and through technologies of valuation. Three bodies of research exemplify different types …