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> In the USA, corporations enjoy human rights They enjoy most civil rights in the US, not human rights, and this is by design in every country I can think of.
by brightlancer 4y ago
> In the USA, corporations enjoy human rights
They enjoy most civil rights in the US, not human rights, and this is by design in every country I can think of.
A "corporation" is, by design, a legal person.
> and as we’ve seen since 2008, are not allowed to die.
Corporations "die" all the time. Even large corporations "die" frequently - usually by whole acquisition, but sometimes by piecemeal acquisition in bankruptcy.
2008 demonstrated to the masses that some corporations are Too Big Too Fail, but that was also true of the corporate officers who were supposed to be legally responsible for unlawful behavior of the corporation: even when the officers knew what they were doing was unlawful, almost none were prosecuted, because the officers themselves were Too Big To Fail.
- janalsncm 4y agoAnd in the corporate equivalent of a malignant tumor, a leveraged buyout can suck all of a company’s resources before destroying it in bankruptcy. See: Toys R Us. https://freakonomics.com/podcast/should-you-trust-private-equity-to-take-care-of-your-dog/ https://freakonomics.com/podcast/should-you-trust-private-eq...
- smsm42 4y agoThe governmental strategy of cheap overbundant credit means that it is a profitable strategy to borrow a ton of money, but an asset, loot it and then declare a bankruptcy. This would be detrimental for a company if the credit was tight and expensive, because nobody would give them money again or if they do, the costs would be so high that the loot wouldn't be worth the effort. But since the credit is made cheap and virtually infinitely abundant, if somebody doesn't give them the credit, somebody else will.