Spoken Mises

A common complaint of anticorporate libertarians and self-described anarchists is that corporations are creatures of the state. The limited-liability feature of the corporate form, they claim, and the ability of corporations to raise large amounts of capital are state-granted privileges. Two important replies to such claims must make their way into cultural awareness: (1) we need corporations if we want any decent standard of living; and (2) these corporate powers would exist without the state.

(Original Text)

The Corporate Form, Limited Liability, and the State (1.60 MB)