WAGES, PROFITS AND INTEREST 191 
general principle of our demonstration may 
be taken to apply to these other types of 
business organisation which differ from the 
simple one which has been posited to simplify 
analysis. Our final generalisation would have 
to be modified to suit the peculiarities of 
these other types of organisation ; but in 
general it may be said, with regard to the 
theory of payment for employing, that the 
only difference which is brought into the 
problem by the recognition of actual employ 
ing arrangements consists in the fact that 
the employing function is split up and divided 
among a number of people, instead of being 
concentrated in a single individual. Inci 
dentally it may be remarked that the appear 
ance of the company form of organisation 
has been productive of the most far-reaching 
and, on the whole, beneficial consequences. 
It is true that it has had—though it 
need not have had—the disadvantage of 
severing the personal ties between em 
ployer and employed, which afforded some 
guarantee that business relations would not 
be de-humanised and degraded into a mere 
cash nexus ; but, on the other hand, it has 
enabled enterprising and able men possessed 
of small means to devote their most valuable 
capacities to the service of the community