“The directors of such companies, however, being the managers rather of other people's money than of their own, it cannot well be expected that they should watch over it with the same anxious vigilance”
— Adam Smith
Simplified Meaning:
When people are in charge of managing someone else's money, they usually do not care for it as attentively as they would if it were their own money.
Related tags
Accountability Corporate governance Corporate responsibility Directors Fiscal responsibility Investment managementFEATURED QUOTES