Comment: Some Objections

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Some Objections

1. Why should who owns what be public knowledge? Do I have a right to know what you own? Should the government require that you report all your possessions? If not, then why do you have a right to know who owns a corporation? Of course the privacy of corporate ownership is sometimes used for nefarious purposes, but so is the privacy that we each enjoy in our own homes - does it follow that everyone should be stripped of that privacy?

2. Whatever the actual corporate law today, in libertarian theory, a corporation is fully liable for all torts. Limited liability concerns only contractual liabilities: e.g. debts to creditors. There's nothing wrong with this, since the creditor who lends to a corporation does so freely, fully aware that the liability of the shareholders is limited to their equity.

3. You're essentially saying "many existing corporations are evil and in bed with the government, therefore corporations as such are evil and should be banned." This is simply a logical fallacy. It would be like saying, "newspapers all lie and are in bed with the government, therefore newspapers as such are evil and should be banned."

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."