|Luke 16:1-13. (Source)|
"The directors of such [joint-stock] 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 with which the partners in a private co-partnery frequently watch over their own. Like the stewards of a rich man, they are apt to consider attention to small matters as not for their master's honor, and very easily give themselves a dispensation from having it. Negligence and profusion, therefore, must always prevail, more or less, in the management of the affairs of such a company." (Emphasis added)That quote is 240 years old. Note that Smith already uses the word "manager". "Stewards of a rich man" apparently alludes to an even earlier source: Luke 16:1-13. Concerns about managers/capitalists aren't recent by any means.