Re: What is AC?
[ QUOTE ]
1. Answer my question first, then I'll answer yours. Why is it +EV for me to give to the poor?
[/ QUOTE ]
Maybe it is maybe it isn't. The EV of it is based on how much you care about the poor, the amount you give and how losing the utility of that money costs you, etc. These factors are the same for taxation, which is forced.
[ QUOTE ]
2. The very essence of the modern corporation is government intervention.
[/ QUOTE ]
Which is why the corporation in some ways is anti-AC. It forces some of it's liability onto involuntary investors (ie taxpayers) to externalize it's costs. This can be done, voluntarily, in a free market devoid of government intervention.
[ QUOTE ]
Perhaps I was being pedantic--currently Bill Gates is the chairman-of-the-board and is retired from his creative role. Even so, everything significant Bill Gates has done has been through the vehicle of Microsoft--a corporation. Corporations would not exist in ACland, I am constantly reminded.
[/ QUOTE ]
Corporations would exist, not in the same way they exist now, that being without forced externalization to taxpayers.
[ QUOTE ]
The bulk of the industrial revolution and the information age which follows has been enabled by the capital accumulation possible by the modern corporation. This capital accumulation depends on limited liability, which requires government intervention. Limited liability protects shareholders (eg, Bill Gates) from the liability incurred by the operation of the corporation. This makes passive investment +EV.
[/ QUOTE ]
Corporations are free to contract that liability from investors to themselves or a voluntary third party such as an insurance company or private bank.
[ QUOTE ]
Why is it +EV to invest without limited liability?
[/ QUOTE ]
Strawman, see above. Why is it +EV to be forced to pay off the debt of a corporation you never dealt with?
|