Everyone knows, or at least should know, that corporations are legal artifacts, not real persons. Nevertheless, some people insist on talking as if corporations were real people with human attributes. Corporations are often said to be greedy or heartless. This is anthropomorphic nonsense, but it is persistent nonsense.

The underlying reality is that only real people can be greedy. In a corporation, there are only two kinds of people that his might pertain to: shareholders and employees.

Let's examine shareholders. It's easy to form a mental picture of a bunch of wealthy tycoons owning corporations. To a degree, this is true. Most corporations have some very wealthy shareholders. But they are not normally in the majority.

Good data is hard to come by, but the best estimate I've seen says that 40% of corporate shares are owned by pension funds, the largest of which benefit public employees like police, firefighters, and teachers.

Now add to that 40% another big chunk for 401Ks, the retirement accounts that have replaced pensions in so many businesses. Add to that the individual savings in IRAs and college savings vehicles it's easy to see that it's ordinary people who own the bulk of corporate America. Does anyone really think that average American's are greedheads because they want a comfortable retirement or want to send their kids to college?

If it's not the shareholders who are greedy, it must be the employees, specifically CEOs and senior management. After all, some of these folks are very richly rewarded for their work. Are they the greedheads?

Generally, shareholders want corporations to pay employees what they have to in order to have qualified employees - and not a dime more. But for many senior management positions, there's a shortage of qualified people. Corporations (and private companies) must engage in bidding wars to attract the talent they need. No one wants to be stuck with incompetent management (that happens enough without trying!).

So, competent senior managers are constantly being offered big rewards to go to another company or to stay with the one they're already with. They take the money happily - and who wouldn't? But is this greed?

Talking about greedy corporations is anthropomorphic nonsense. The real source of this kind of talk is resentment that exceptionally talented people can be richly rewarded. The moral problem here isn't greed - it's envy!