> In the presence of competition "optimal for owner" equates to "optimal for the system at large" I'd humbly suggest that the system is comprised of more than

> In the presence of competition "optimal for owner" equates to "optimal for the system at large" I'd humbly suggest that the system is comprised of more than mere owners. > There's wide-ranging literature on why companies exist [1] Indeed. Are you suggesting they describe examples of firms that don't produce, and never intends to do so? I'd be very interested to learn about them, as I'm surprised to hear someone imply The Theory of the Firm describes organizations without output.