Posted at Hartmann Report on Jun. 9, 2024
Solution: Bring Back the Corporate Death Penalty: The Hidden History of Monopolies
While the human death penalty has largely disappeared in the world and is fading in the United States (a good thing), the corporate death penalty needs a revival.
The corporate death penalty, widespread in the 19th century, is a political and economic process that weeds bad actors out of the business ecosystem to make room for good players. The process of revoking corporate charters goes back to the very first years of the United States. After all, the only reasons that states allow (“charter”) corporations (normal business corporations can be chartered only by a state, not the federal government) are to serve the public interest.