Helmut Schmidt, Bundestag Speeches 1971: Those who believe that ownership can lead to control over people are mentally living in the last century. Now, of course, corporate management and direction necessarily always involve control over money and goods, and at the same time, control over people. This cannot be separated; it must be this way, which is why corporate management is not solely legitimized by ownership. Most bosses, board members, and chairpersons of our companies are not owners or co-owners; rather, the management function legitimizes itself in other ways. On one hand, it legitimizes itself through the skills that these individuals must possess, and on the other hand, it legitimizes itself through the trust of those who are fundamentally entitled to make decisions, through the trust of those who place orders. Let me return once more to the role of the board. The argument against co-determination is that it threatens entrepreneurial freedom. I am not entirely sure that the term 'entrepreneur' encompasses what we mean together. In the past, an 'entrepreneur' was understood to be someone who risked their own assets and wealth. Today, however, when someone becomes a board member, say of Dresdner Bank, they find a company that has been managed by others before them. They themselves bring no personal risk other than their career risk.