The Corporation. Retrieved from March 2011: https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjruM7P3eEcu0GQCckRB_ZKZprONd9rahAGKrcQJ0-AGOzJHft0lgXoVbUcIMMVrZ16kpymRimsnSwVt1o_4qw7pQmM8W5ON8w1Ot7MAuAKP3_pQmGOZ3JuHCTFftGF-jPVz31rJ_nYNe3d/s1600/41980_the_corporation.jpg
Capitalism
Economic system in which property is privately owned and goods are privately produced. It is sometimes referred to as the private enterprise system.
Capitalism is a social system based on the principle of individual rights.
Retrieved from March 2011: http://dailycensored.com/2010/05/31/the-death-of-capitalism/
Psychopath
First described systematically by Medical College of Georgia psychiatrist Hervey M. Cleckley in 1941, psychopathy consists of a specific set of personality traits and behaviors. Superficially charming, psychopaths tend to make a good first impression on others and often strike observers as remarkably normal. Yet they are self-centered, dishonest and undependable, and at times they engage in irresponsible behavior for no apparent reason other than the sheer fun of it. Largely devoid of guilt, empathy and love, they have casual and callous interpersonal and romantic relationships. Psychopaths routinely offer excuses for their reckless and often outrageous actions, placing blame on others instead. They rarely learn from their mistakes or benefit from negative feedback, and they have difficulty inhibiting their impulses.
Legal institution
Systems of legal rules which allow to change the regulative and
constitutive rules of an organization.
“Systems of [regulative and constitutive] rules that provide frameworks for social action within larger rule-governed settings” (Ruiter, 1997) (1)
Externalities
Externality is a situation that occurs when the benefits or private costs entitled to the producers and consumers of a product are different from the consuming the product . These situations occur when the outcomes of an individuals actions affects another individuals well being . The affected person according to the existing property rights in the society is not entitled to any payment .
Externalities of either the "positive" or the "negative" sort create a problem for the effective functioning of the market to maximize the total utility of the society. The "external" portions of the costs and benefits of producing a good will not be factored into its supply and demand functions because rational profit-maximizing buyers and sellers do not take into account costs and benefits they do not have to bear.
Limited liability
Limited liability refers to the terms of limited partnerships, which comprise at least one general partner, who takes on unlimited liability, and one or more limited partners, who would never lose more than their original initial investment in fulfilling the partnership's obligations. Limited liability protects a partner's personal assets from being liquidated should the company become insolvent.
A Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because, similar to a corporation, owners have limited personal liability for the debts and actions of the LLC. Other features of LLCs are more like a partnership, providing management flexibility and the benefit of pass-through taxation.
In this documentary, corporations are defined as “legal entities” and they meet the clinical definition of psychopathic behavior. Do you agree, why, or why not?
Corporations are legal entities, like people. They enjoy all the rights afforded under the bill of rights, by virtue of a court’s interpretation of the 14th amendment in the late 19th century (Santa Clara County vs. Southern Pacific Railroad Company). Unlike people, corporations are immortal and have only one consideration influencing their behavior, profit.
In psychiatry there is a diagnostic entity variously known as psychopath, sociopath and antisocial personality disorder. The central feature of this disorder is the failure to develop any ethical standards of social behavior, The concept of "do unto others as you would have them do unto you" is foreign to the psychopath. That remarkable advice is replaced by "do unto others as it pleases you regardless of consequences." We do not know for sure the cause of such behavior, whether it is genetic in origin, the result of early developmental trauma, or a combination of the two. The outstanding feature is that the psychopath has a natural talent for using and exploiting others and does so with such skill that true motives remain concealed by ingratiating ways and apparent normality. At some point the bubble bursts and the victim awakens to the reality that they have been taken.
A corporation has been endowed with personhood by the Supreme Court. It is not a person but it is run by persons. If the ethical standards of those at the top fail to maintain a certain level of social responsibility, the result is the insidious onset of corporate psychopathic behavior. A few get very rich and the others wake up one day to find themselves abandoned by the institution they trusted. We now have to take into account the corporation as a psychopathic entity outfitting all prior attempts on the part of governmental regulating agencies to control its behavior.
If you want to see the complety documentary, click here:
Sources:
1. D.W.P. Ruiter. A basic classification of legal institutions. Ratio Juris, 10(4):357–
371, 1997.
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