03/08/07
My former colleague Clark Stooksbury believes that the limiting of liability of corporations is somehow a major problem for the idea of liberty. In his latest blog entry, he says as much.
Please read it, and then click the comments, and read my comment. Am I wrong?
I thought limited liability was about limiting the liability of shareholders to the value of their stock. This doesn't seem so wrong to me, especially when you consider what would happen were the limitation removed: we'd be left with bankers, mainly, as the chief investors of accumulated capital.
But I could be wrong. I am awaiting to be enlightened.
(Note: you can communicate with me directly from my contact page.)
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