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#10: before the country, there was a corporation
15 months ago
the declaration of independence was a dissolution of the British corporations that controlled trade and extracted wealth. The founders of this fair country maintained a healthy distrust of corporate power. Incorporation was mainly only allowed for the purpose of carrying out public works, like the building of a canal or a road. Some rules that were on the books (would you believe it? um…can we bring them back please?)
- Corporate charters (licenses to exist) were granted for a limited time and could be revoked promptly for violating laws.
- Corporations could engage only in activities necessary to fulfill their chartered purpose.
- Corporations could not own stock in other corporations nor own any property that was not essential to fulfilling their chartered purpose.
- Corporations were often terminated if they exceeded their authority or caused public harm.
- Owners and managers were responsible for criminal acts committed on the job.
- Corporations could not make any political or charitable contributions nor spend money to influence law-making.
we’ve come a long way since then, the biggest defining event was the use of the 14th amendment to grant “personhood” to corporations, which can be a particularly malevolent, sociopathic brand of personhood.
