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“We should ban corporations”
“You’re into human rights and all right”
“Yeah, but..”
“Like freedom of speech, expression..
“Of course”
“But corporations have legal personality!”
“So if you start say a Marxist Society, and everyone pays its dues. But because it is run by Communist, it goes bankrupt and the creditors want to collect from its members. Is this right?”
“No, but…”
“It’s a bit of the same with corporations isn’t it? There is no meaningful right to associate if an association cannot sue and have unlimited liability all the time.
“But limited liability is unfair to creditors of commercial businesses”
“Why? A bank knows full well that the organization they are lending to has limited liability and adjust their credit policy accordingly – it’s not unfair to them. But forcing unlimited liability on everyone is unfair – I mean, why should you risk your solvency when you invest, say, $1,000 in a unit trust for retirement?”

Then the conversation veered into the topic of retirement where I surprised someone by supporting some sort of social security despite claiming to to be libertarian. Life has no bigger horrors.


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