He is worth his weight n surplus value !
Corporations are the organization he explains
They combine Alchian's monitors ie hierarchy crucial to a viable market embedded firm
as opposed to
A Contrivance of equals ie a partnership system via ing for revenue in competitive markets
Yes monitoring plus absentee ownership => corporations in holmstrom's lingo
Henc forth your comrade in arms OP
Will be implicitly invoking this distinction
when talking of corporations v the more generic term firms
