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The reason companies are given legal standing and privilege is because they serve a useful social function, in addition to being a legal nicety for investment.
by bigfudge 4y ago
The reason companies are given legal standing and privilege is because they serve a useful social function, in addition to being a legal nicety for investment. If companies don’t serve useful social purposes we can change the law to withdraw those privileges.
- yowlingcat 4y agoThat's incorrect. They are given legal standing and privilege because they serve a useful /economic/ function (tax base). The social function is downstream from this, and it's also what creates friction to actually /change the law/ to withdraw those privileges -- you do it at the risk of hemorrhaging that tax base which funds the governing apparatus.
- bigfudge 4y agoI think you have a narrower definition of ‘social’ function. I mean the things that are useful to society as a whole. Things we seem not helpful/useful/conducive to people leading best lives can be curtailed. Not everyone shares the view that “economic freedoms” are inalienable when they entail externalities.