Some gigantic economic activities are only possible because corporations have limited liability. It isn’t feasible for an individual to finance the enterprises, and it is too risky for investment from multiple people. Instead, millions of people can invest a small amount without becoming liable for any debts incurred. Executives lead these large corporations because there are too many stockholders to successfully coordinate activity between them. This separation of ownership and management is a core component of the success of corporations. The insistence that owners should be responsible for managing corporations is misguided. Most investors do not want this responsibility, nor is it clear it would avoid fraud and abuse. Such misbehaviour is present in non-corporate enterprises. Fraudulent activity exists within democratic and totalitarian governments, the UN, and non-profit charities.