Friday, April 1, 2011

Are people and companies the same?

The Economist's Schumpeter column analyzes if corporates and people should have the same rights and obligations. Me thinks, it is a bad idea.

You can read it here:
Peculiar people
How far should one push the idea that companies have the same rights as ordinary people?

Amusing that the corporation behaves like a psychopath, with callous disregard for others, the article says quoting a film by the same name!

Taking this argument to India, the Tata's would insist on privacy! And Dow Chemicals USA will continue to defend that it was technically not present in India during the Bhopal gas disaster in 1984. But that's the thing. It can cut both ways.

The article raises these relevant concerns: "Aren’t they likely to use their collective muscle to trample over the little people? And won’t they invoke the rights of ordinary people without burdening themselves with the responsibilities?"
And of course, mighty corporations can have personal political affiliations that can directly counter interests of the people. We surely know the direction that governments will take, when faced with huge Goldman Sachsesque contributions as against our friend John Smith who teaches in a school.