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The thing is the downside of risk taking still exists. It just shifts from an individual risk(the corporation) to an existential risk(a big chunk of the economy
by sidewndr46 5y ago
The thing is the downside of risk taking still exists. It just shifts from an individual risk(the corporation) to an existential risk(a big chunk of the economy).
The only way to prohibit this would be to cap the maximum size of a corporation. My guess is lawyers would just come up with some legal novelty to work around this in no time at all.
- brokencode 5y agoWe need to enforce antitrust laws, or make new laws if those aren’t sufficient. Large companies have insane levels of control over our lives, and it’s not healthy for society. Just look at Facebook and Google’s stranglehold on information, or Apple’s 30% fees on most iOS app revenue.
- clairity 5y ago"...It just shifts from an individual risk(the corporation) to an existential risk(a big chunk of the economy)." but that's the point of the early-enough forced bankruptcy - to salvage value and re-internalize the downside risk to owners only. i'm totally down with limiting corporate size, not via a direct statute to that effect, but via a high-functioning antitrust department along with severely progressive taxes. you can get as big as you want, as long as you can internalize all the downside risk of being 'too big to fail'.