Profusion Quotes
Corporations were not common at the time. The corporations of the day like large corporations today had directors and managers who were not the principle owners. There was deep suspicion that these professional managers would not watch over the money of the corporation with the same degree of vigilance as would the owner manager. The same problem exists today when the economic vested interest of the managers and the shareholders do not always coincide. Various bonus schemes have been created to ameliorate the problem, but as the meltdown of 2008 and the Great Recession demonstrated, many managers would make ruinous decisions for the corporation as they could get large bonuses. “Copartnery” is an older English term for “partnership.”
