Comment: Revoke Corporate Powers

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Revoke Corporate Powers

Its time we surgically removed the corporation from capitalism. The growth of the corporation in the 19th century was NOT capitalist progress, it was reversion to feudalism. A corporation is a state entity with no natural rights. For corporate executives, it is a title of nobility, allowing them to create externalities and shielding them from lawsuits by third parties (citizen-peasants).
Franklin smith from the progressive era wrote on the topic: http://books.google.com.sg/books?id=nCMDAAAAMBAJ&lpg=PA781&d...
Eliminate the corporation, get back to individual property rights and responsibilities. This was a battle lost in the 1890s but it needs to be revisited. The expansion of corporate power was the reason progressives justified the expansion of government power (see Napolitanos history Part 3).