Almost Classical

Companies are people. And they aren't. This concept of legal personhood , or legally responsible entity, is embodied in the United States Code: 1 U.S.C. §1 (United States Code): In determining the meaning of any Act of Congress, unless the context indicates otherwise the words "person" and "whoever" include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals; The reason for this artificial legal construct is simple, though many progressives, and more than a few conservatives, fail to understand why the construct is necessary. If corporate entities didn't exist as people, they could not conduct business. Consider everything a company does that an individual does: Buy property. Pay bills. Enter into contracts. Pay individuals (employees and consultants). Register copyrights and patents. Pay taxes and fees. Pay fines… (yes, that matters). Executives come and go, so suggesting t...

The following was posted to the comments section of a very old blog post: The Top Ten Reasons I Hate Capitalism: 10: Kim Kardashian 9: Vast economic inequality destroys democracy 8: Survival of the fittest (I'm definitely not among the fittest) 7: Donald Trump 6: The Attitude of the Fittest toward the Unfit 5: Reality TV 4: Walmart 3: Mark Zuckerberg 2: It appeals to the worst aspects of human nature And the #1 reason I hate capitalism: I am not Bill Gates! Envy! Perhaps that's what it comes down to. That's what the conservatives and defenders of Capitalism would have us believe. Or perhaps there is just something inherently unfair and unjust about it. Yes, it is easy to dislike some of the wealthy in our supposedly capitalist nation. And the easy response is that the United States is not a purely capitalist nation, certainly not as Adam Smith envisioned capitalism and not in the sense that the Austrian economists believed in and promoted either a minima...

While the Citizens United case has ignited righteous indignation on the political left, the Supreme Court ruling last week removing most caps on campaign advertising was not only the correct decision but represents a return to how our founders approached politics. Every newspaper, magazine, and "news" outlet was exempted from corporate finance restrictions even before this ruling. Why? Because you cannot limit the free press. But why should that logic apply to businesses? When our nation was founded the political parties, various organizations, the wealthy, and even many in the merchant class set about publishing "newspapers" that were little more than campaign ads. Printing was a huge business as a result. A single sheet newspaper could be prepared simply and distributed for a reasonable cost. Newspapers were named the "Middletown Press Democrat" or the "Anyville Republican Gazette" for a reason. Media bias was a given. Even small towns ha...