On Corporations

“The corporation’s first responsibility is to its stockholders,” said Mr. Bates.

“No,” Mr. Magundi replied, “the corporation’s first duty is to the moral law, just as yours or mine is. A corporation is legally a person, and it cannot expect to enjoy the privileges of personhood without the responsibilities. When a man loses touch with the moral law so completely that he becomes a danger to his neighbors, we have procedures for locking him up as a dangerous psychopath. If a corporation is legally a person, then a corporation that displays all the behaviors of a deranged psychopath should be legally a madman; and we should be able to lock it up in some sort of receivership until we’re sure it’s no longer a danger to the community.”

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