The Corporation Quote
Noam Chomsky: The dominant role of corporations in our lives is essentially a product of roughly the past century. Corporations were originally associations of people who were chartered by a state to perform some particular function. Like a group of people want to build a bridge over the Charles River, or something like that.
Mary Zepernick: There were very few chartered corporations in early United States history. And the ones that existed had clear stipulations in their state issued charters, how long they could operate, the amount of capitalisation, what they made or did or maintained, a turnpike or whatever was in their charter and they didn't do anything else. They didn't own or couldn't own another corporation. Their shareholders were liable. And so on.
Richard Grossman: In both law and the culture, the corporation was considered a subordinate entity that was a gift from the people in order to serve the public good. So you have that history, and we shouldn't be misled by it, it's not as if these were the halcyon days, when all corporations served the public trust, but there's a lot to learn from that.
Narrator: Having acquired the legal rights and protections of a person, the question arises - what kind of person is the corporation?
Noam Chomsky: Corporations were given the rights of immortal persons. But then special kinds of persons, persons who had no moral conscience. These are a special kind of persons, which are designed by law, to be concerned only for their stockholders. And not, say, what are sometimes called their stakeholders, like the community or the work force or whatever.
Robert Monks: The great problem of having corporate citizens is that they aren't like the rest of us. As Baron Thurlow in England is supposed to have said, They have no soul to save, and they have no body to
Mary Zepernick: There were very few chartered corporations in early United States history. And the ones that existed had clear stipulations in their state issued charters, how long they could operate, the amount of capitalisation, what they made or did or maintained, a turnpike or whatever was in their charter and they didn't do anything else. They didn't own or couldn't own another corporation. Their shareholders were liable. And so on.
Richard Grossman: In both law and the culture, the corporation was considered a subordinate entity that was a gift from the people in order to serve the public good. So you have that history, and we shouldn't be misled by it, it's not as if these were the halcyon days, when all corporations served the public trust, but there's a lot to learn from that.
Narrator: Having acquired the legal rights and protections of a person, the question arises - what kind of person is the corporation?
Noam Chomsky: Corporations were given the rights of immortal persons. But then special kinds of persons, persons who had no moral conscience. These are a special kind of persons, which are designed by law, to be concerned only for their stockholders. And not, say, what are sometimes called their stakeholders, like the community or the work force or whatever.
Robert Monks: The great problem of having corporate citizens is that they aren't like the rest of us. As Baron Thurlow in England is supposed to have said, They have no soul to save, and they have no body to
Movie: The Corporation
