I believe that the solution to this problem lies in a corporate body which shares the revenues or production between Capital providers and Capital users: the "Capital Partnership" as I call it, is enabled by simple new legal forms like the US LLC and UK LLP.
In this model there are no "employees", merely managing and operating "partners". "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
It's the "chaordic" approach envisaged by Dee Hock when setting up Visa.
Except I envisage (as did he, but the Banks would have none of it) that individuals - as well as intermediaries - would be members of the "chaordic" "partnership of partnerships" or "cooperative of cooperatives" that constitutes the enterprise model that results.
If a managing partner has a pre-agreed share of production or revenues then agency does not come into it. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
