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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (795345)	7/16/2014 7:43:18 PM
From: i-node	Read Replies (1) \| Respond to of 1582533

>> I hope we shall take warning from the example and crush in it’s birth the aristocracy of our monied corporations which dare already to challenge our government to a trial of strength and bid defiance to the laws of our country. I think you (and other liberals, by looking at Google results) misunderstand what Jefferson was referencing in his letter. You have to keep in mind that the "monied corporations" of the time were those created and operated under the auspices of either the British Crown or more recently, by acts of Congress or of state legislatures. It seems to me that in citing this passage, you're trying to equate, in some way, those "aristocratic" entities with the private and publicly-held entities of today. They aren't the same, they aren't even similar, and I would have to agree with Jefferson on his point, the idea that corporations were formed by acts of Congress or state legislatures and the very act of creating one might involve undue political influence. Corporations of that day were not given adequate rights to cause capital formation in they way it is necessary today. Without transitioning the power of incorporation to state administrative agencies you could have had plenty of DuPonts and no IBMs. That is, monied aristocracy. I get the idea you basically misunderstand the entire concept of what a corporation is or why they exist.