A severe problem in modern economies is the principal-agent
problem, also called the agency problem.
It's also interesting theoretically.
The agency relationship is between a principal and an agent.
The principal has supplied funds and has the right to the
profits (if any). He has the right to hire and fire the agent,
and bargain over compensation. Theoretically the power of
management is vested in the principal (as the owner).
The agent actually manages the project. He has the right to
refuse employment and bargain over compensation. His powers are
determined by his contract with the principal.
A typical (but extremely complex) example is the oversight of the
government bureaucracy by the executive leadership.