TASK N°8

Corporations are the dominant institutions today, emerged in 1742 in the industrial era with the invention of the steam engine by Thomas Newcomen.
Corporations are like a family unit working together to reach a common goal.

Initially there were few associations legally constituted by the State to perform a particular function where their shareholders were responsible.
However, a century ago, corporations were limited in terms of growing and power. The lawyer’s initial step was to show the corporation as a person. Under the law corporations are now immortal; laws legitimize all their actions as long as they seek to maximize profits.

There should be different laws for individuals and corporations, the limits should be set by the State and other entities to ensure the peoples’ safety. The State should respect the rights and duties of the individual and make them different from the laws and rights of corporations. The State should have the power to make these companies accountable.
The problems that currently corporations generate are minimized through agreements, some members of the corporations know the damage they cause, but law enforcement becomes a strategic decision because the profits are higher than the costs, if these costs were more constant and higher it can represent losses for corporations and they would be responsible for their actions.

The directors, employees, shareholders and other company’ members are partly responsible because they must act according to the objective of the organization, some of them act because of necessity but limited by the own corporation. The corporations and their shareholders do not realize they are leaving a legacy of destruction for future generations, as people or individuals they are kind but when they develop the institutional role they are manipulated with the desire to make money.

If the point is to maximize profits and reduce costs to have more money, there should be another way to get the same institution but without damage people, public institutions and industries can act in countercyclical time and they do not seek benefits only they also look the societies welfare, these entities could be an initial choice while we looking for another entity favorable for the society and corporation’s benefit.

References: Achbar Mark, Abbot Jennifer and Bakon Joel.The corporation documentary, 2003

Video Taken form Youtube.com, 2010. Corporations vs The People - Fighting Corporate Rule. http://www.youtube.com/watch?v=POY-4YHPUBI

Image, october 2010 (online). Taken from http://wideawareness.wordpress.com/tag/the-corporation/