| |
| | A Look at the Invisible Hand (Harpers.org) (Site not responding. Last check: 2007-11-01) |
 | | Primogeniture and the transmission of wealth by entailments were abolished, and the division of estates encouraged, in order, on the one hand, to prevent the absorption of any considerable portion of the national resources by a few; on the other, to make wealth the reward of one's own frugality, diligence, and ability. |
 | | In the case of the adoption of the corporate principle, the stockholders, in so far as their interests are not merely speculative, must desire to elect directors who will so manage their property that it will yield large dividends, while the directors, themselves stockholders, wish a return on their investment. |
 | | On the other hand, as has already been pointed out, the interest of the directors is often not identical with that of the property which they manage, and they are, as experience demonstrates, oftener faithless to their trust than public servants, while the opportunities for their exposure and punishment are less favorable. |
| www.harpers.org /GrowthOfCorporations.html (4512 words) |
|