Wednesday, March 30, 2011
I have encountered many folks who declare themselves libertarians who seem dismayed at my approval of regulation of corporations. How can I call myself a libertarian if I don't support unfettered corporate action? In my view, a corporation is a creature of the state. A collection of businessmen approaches the state and receives from it a license to do business with limited liability and with the ability to concentrate capital and power beyond what any ordinary subject of the state could hope to amass without the help and blessing of the state. Moreover, they seek to do this with almost no transparency. If you go to the state seeking these kinds of concessions and special privileges, I reckon that the state can impose any conditions on this that it pleases. And to the extent that these conditions accidentally protect me and other folks from predation and the abuse of power by the various syndicates, then I'm doubly behind them. Frankly, I'd just as soon have only the state (and its myriad annoying subdivisions) to deal with.
Posted by Vache Folle at 8:14 AM