What would help is if the Supreme Court (and indeed corporate law in general) adopted a clear principle when it comes to the analogy between artificial persons and real ones: that companies should be treated as people only in so far as it is expedient. They clearly need to be able to enter into contracts just like individuals. But they should not be treated as if they experience such essentially human emotions as embarrassment and a desire for self-expression. Thus they should not have the same rights to privacy and political freedom as a citizen, but should have only as much of a right to confidentiality and political participation as is helpful for the efficient functioning of business (including letting firms contribute to the public debate on the regulation of business). Companies—or rather their bosses and owners—should welcome such constraints: any further “rights” would, sooner or later, be matched by onerous responsibilities.
Schumpeter
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mazsa
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admin 11:19 on April 12, 2011 Permalink |
https://www.economist.com/node/18437755/comments