Monday, June 30, 2014
This Week in the Supreme Court: Protecting the Powerful Against the Weak
Just wanted to say that I think the Hobby Lobby decision is atrocious. The institutionalization of the corporate form is all about separating the corporation itself from those that finance it in return for the protection of limited liability. Further eroding the separation of ownership from direct control of the corporation is terrible on its own terms. Furthermore, it further reinforces the claims of owners relative to other stakeholders in a corporation. This is an appalling decision the further erodes the rational for giving corporations limited liability. If they are going to have full control over the assets their liability should be unlimited as well. There is no reason for the government to give the most powerful people in society something for nothing. Especially something that gives these powerful individuals even more power relative to ordinary Americans.