Large LLCs seem to be responsible for a significant amount of worker exploitation, deliberate poisoning of consumers, and environmental pollution in general. From an economic perspective they are of course successful, because they provide great shareholder value. It's a classic "privatize the profits, socialize the losses" scenario: once you get caught doing something really bad, you just go bankrupt and let the government pay for the fallout! There is literally no reason not to - at worst your shares lose their value and you've been able to extract a healthy amount of dividend from the company.
Historically many companies have been able to provide great innovations under private ownership, and I see no reason to believe that the concept of an LLC is in any way a prerequisite for improving our standards of living. They have only been around for a relatively short amount of time (especially the kind where nobody is responsible) and we've been doing quite well before that.
So tell me, what is this magical benefit for society we can only achieve via LLCs which outweighs all the damage they are doing? How did Big Tobacco improve our standards of living in such a way that they should be absolved of all responsibility for knowingly poisoning their customers?
Large LLCs seem to be responsible for a significant amount of worker exploitation, deliberate poisoning of consumers, and environmental pollution in general. From an economic perspective they are of course successful, because they provide great shareholder value. It's a classic "privatize the profits, socialize the losses" scenario: once you get caught doing something really bad, you just go bankrupt and let the government pay for the fallout! There is literally no reason not to - at worst your shares lose their value and you've been able to extract a healthy amount of dividend from the company.
Historically many companies have been able to provide great innovations under private ownership, and I see no reason to believe that the concept of an LLC is in any way a prerequisite for improving our standards of living. They have only been around for a relatively short amount of time (especially the kind where nobody is responsible) and we've been doing quite well before that.
So tell me, what is this magical benefit for society we can only achieve via LLCs which outweighs all the damage they are doing? How did Big Tobacco improve our standards of living in such a way that they should be absolved of all responsibility for knowingly poisoning their customers?