re: #129 wozzablog

As an aside, corporations exist as entities because society permits them to. There is no constitutional right to form a corporation. Corporations are explicitly formed to allow investors to limit there exposure to risk (i.e. the investors other assets can’t be seized to pay the corporations debts and investors can’t be jailed for crimes committed by the corporate officers in their name). Because this is a n economically useful thing we allow corporations to exist. If we as a society decide that this social contract (corporations exist to make money and shouldn’t be doing anything else) is no longer working, we are free to change the laws regarding incorporation.

Corporations are not a pillar of capitalism, they are a useful legal device for a more efficient market. That’s it.