Management who are also
employees, are separated from production workers. This class of managers
manages the day-to-day operations both in the private and in the public
sectors. The ultimate control in the private sector rests with ownership
however defined. In the public sector decisive jurisdiction rests with
government at whatever level.
Research and development, accounting, investments in expanded operations
all this decisions are made by educated and trained professionals. The
capitalists, who frequently have little knowledge where there money comes from,
often hire out the entrepreneurial function. Ownership is separated from the
entrepreneurial function but the capitalist is still in charge of both sectors.
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