Owners have a much longer-term perspective than hired hand managers. From Butler Shaffer at lewrockwell.com:
When I was in law practice, I represented employers in matters involving labor law. My experiences confirmed how respect for the inviolability of private property interests was the essential element not only for a peaceful and orderly society but also for a world of individual liberty free of the violence and destructiveness of political systems. One of the things I noticed with a high degree of consistency was that clients who were the owners of businesses tended to take longer-term (timewise) and more philosophically principled actions than did those who were only managers of the firms they represented. Ownership carried with it a perspective that was inseparable from the personhood of the owner. Business firms with such names as “Ford,” “Chrysler,” “Westinghouse,” “J.P. Morgan,” and “Rockefeller,” reflected the sense that the personality of the creator-owner transcended his own life and carried over into the family-name shared by his children and grandchildren. In much the same way that long-standing farms would have family cemeteries on them, “property” was looked upon as more than a temporary convenience or asset. One who was an owner cared about the long-term implications of his/her decision-making that extended beyond their death.
