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View Diary: Ending the criminal insanity of the concept of corporations as people (280 comments)

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  •  This is actually a poorly understood concept, (2+ / 0-)
    Recommended by:
    PrahaPartizan, shrike

    legal construct.   A business that is a sole proprietorship won't survive the death of its owner.  Because multiple people can own a corporation, and pass their ownership interests on and the corporation can continue to exist independently of individual people, a corporation is considered to be an "artificial person" in order to insure that rights that we normally consider to be individual rights can be possessed by the multiple and changing number of people that typically own the stock of a corporation.  In essence, it is a way to make sure that people have the same rights when they band together to form a business as when they operate as sole proprietors.  

    Yes, that "artificial person" has a lot more power, but the members of the corporation are still people with individual rights.  Our laws, for the most part, take that into account.  It is where they don't that you should be angry, not at the fact that people who band together to form and own a corporation are not stripped of their rights as individuals.

    Unwitting privileged genetic lottery winner and economic engine

    by SpamNunn on Wed Nov 27, 2013 at 07:43:15 AM PST

    •  Eliminate the Fiction of the Corporation (2+ / 0-)
      Recommended by:
      pat bunny, shaharazade

      Moden IT systems seem to offer the prospect of eliminating the need for the corporation and its shield of anonymity.  Let's apply them.  Make the owners of a business liable for the acts of the firms they operate and make them aware of the risks and damages those firms inflict on society.  By divorcing the costs associated with those operations from the enterprises' returns, we've created a system which rewards recklessness and punishes prudence and then shields the perpetrators from legitimate redress.  That's reflects super rights for corporations, a neo-aristocracy if you will who sit above the natural persons who created the society on which the enterprise battens.

      "Love the Truth, defend the Truth, speak the Truth, and hear the Truth" - Jan Hus, d.1415 CE

      by PrahaPartizan on Wed Nov 27, 2013 at 07:56:11 AM PST

      [ Parent ]

    •  And the concept comes from Common Law as I (1+ / 0-)
      Recommended by:
      SpamNunn

      understand it (corporate personhood).

      The Santa Clara case acknowledged what had been known in English Common Law.

      "The way to see by faith is to shut the eye of reason." - Thomas Paine

      by shrike on Wed Nov 27, 2013 at 08:26:26 AM PST

      [ Parent ]

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