ABSTRACT
Although owners are not usually classified according to their relationship with the firms that they own, that is precisely where we will start. We can identify three types of owners in the legacy economy: workers, who are actively involved in the running of the companies they own; beneficiaries, who stand to benefit from the company’s good or service; and external shareholders, who own a stake in private companies or in those traded on the public markets, public corporations. In Chapter 9, we first survey the legacy economy’s three types of owners, before examining the unusual owners and structure of the public corporation, and its role in creating the unsustainable legacy economy.
