The terrible situation STILL faced by victims of the #cladding scandal demonstrates the outrageous nature of limited liability. Limited liability is a free gift to corporations. It allows them to walk away, leaving others to pick up the bill.
Here's what to do about it.
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Here's what to do about it.
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Limited liability should be a commercial product, purchased by limited companies from insurers, who can assess the nature and scale of the risk, and charge accordingly.
This would elimate at a stroke a large part of the externality problem.
More here:
theguardian.com/commentisfree/…
This would elimate at a stroke a large part of the externality problem.
More here:
theguardian.com/commentisfree/…
Why is this subject so seldom raised? One scandal after another reveals the cost that the current nature of limited liability transfers either to victims of corporate corner-cutting, or to taxpayers, who have to pick up the pieces.
It's time to start talking about it.
It's time to start talking about it.
Limited liability, in its current form is a subsidy, granted to corporations by the state.
Worldwide, it might amount to trillions of dollars.
This subsidy incentivises reckless and irresponsible behaviour.
It must be among the most perverse subsidies of all.
Worldwide, it might amount to trillions of dollars.
This subsidy incentivises reckless and irresponsible behaviour.
It must be among the most perverse subsidies of all.
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