Archedelia • 1434 implied HN points • 26 Aug 23
- Corporations are not run by individual stockholders, but by managers who respond to asset managers and institutional investors.
- The theory of the free market is based on a universe of small proprietors, which is not applicable to today's corporate economy.
- Corporations were initially formed by government charters and are now influenced by state purposes, leading to a malfunction in a purely market-driven environment.