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by silexia
1888 days ago
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I agree with the grandparent. Externalities should be born by the company making the profits. Example: imagine an oil company that can pump toxic fluids into the ground in order to cheaply extract lots of oil. Those toxic fluids render miles of ground as wasteland far into the future. The owners of the company should not be allowed to take the profits now, then allow the company to go bankrupt so they don't have to pay back and repair the damage they did. The limited liability company should be eliminated as it encourages terrible behaviors. |
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You ignored what I wrote. Wiping out investors is making externalities born by the company.
My statement has nothing to do with externalities. It’s about investors being on the hook a good thing.
The grandparent implied that poor investors lose their money on one hand and complain about externalities going to public on the other, which makes no sense. Holding companies, and subsequently shareholders, accountable for all of the company liabilities is the capitalist way.