Comments on: Why A Recession Could Be a Good Thing http://sanchezkisser.com/blog/2008/01/28/why-a-recession-could-be-a-good-thing/ The Blog Of An Open Source Librarian, In Which There Is No Shushing Sat, 17 May 2008 05:23:21 +0000 http://wordpress.org/?v=2.2.2 By: Keith http://sanchezkisser.com/blog/2008/01/28/why-a-recession-could-be-a-good-thing/#comment-68894 Keith Wed, 30 Jan 2008 00:56:56 +0000 http://sanchezkisser.com/blog/2008/01/28/why-a-recession-could-be-a-good-thing/#comment-68894 Agreed. I'm not opposed to capitalism, per se, but it needs to be restrained by respect for the social contract, which as you say, Bryan, would put corporations right out of business. Which would be fine with me. String 'em all up! Agreed. I’m not opposed to capitalism, per se, but it needs to be restrained by respect for the social contract, which as you say, Bryan, would put corporations right out of business. Which would be fine with me. String ‘em all up!

]]> By: Bryan http://sanchezkisser.com/blog/2008/01/28/why-a-recession-could-be-a-good-thing/#comment-68886 Bryan Tue, 29 Jan 2008 23:43:47 +0000 http://sanchezkisser.com/blog/2008/01/28/why-a-recession-could-be-a-good-thing/#comment-68886 Actually, capitalism is a wonderful system and we really should give it a proper trial. Unfortunately that means the end of corporations, because the sole purpose of a corporation is to limit risk, and risk is the regulator on capitalism. If corporations faced the risk of having to actually pay for the damages they cause, and I mean pay all of the costs and going beyond bankruptcy for the money from every stockholder of record, then they would probably be better about not causing damage. If the directors and management faced prison time like the owners of small businesses, they might behave themselves. Actually, capitalism is a wonderful system and we really should give it a proper trial. Unfortunately that means the end of corporations, because the sole purpose of a corporation is to limit risk, and risk is the regulator on capitalism.

If corporations faced the risk of having to actually pay for the damages they cause, and I mean pay all of the costs and going beyond bankruptcy for the money from every stockholder of record, then they would probably be better about not causing damage. If the directors and management faced prison time like the owners of small businesses, they might behave themselves.

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