make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Limited Liability

I should also point out that the notion of granting limited liability to joint-stock companies (resulting in the creation of modern C corporations) was a highly contentious issue throughout the first half of the 19th Century. It was opposed by a great many political and economic thinkers when America was young, including many of the founding fathers. The debate over this issue raged for decades, but the industrialists of the latter half of the 19th Century finally won out, and limited liability for corporations became the law of the land. Adam Smith himself expressed reservations about it in The Wealth of Nations. Many modern-day libertarian thinkers also believe it was a mistake that should now be corrected.

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.