What makes managers tick? There has been much recent debate on a subject which has come to be known as “Corporate Governance”, looking at a number of issues on the role of executives, the goals they strive for, and the best way to ensure they are accountable for the way they manage the resources under their control. This article, drawn from a talk at a recent seminar organised by the Prudential Assurance Company and the Social Market Foundation in London argues that accountability should unambiguously be to shareholders, that present arrangements are inadequate for this purpose and that changes in the law are requi