To Whom Are Big Corporations Accountable?
On the Mises blog Nicholas Sorrells has written: “Evidently power is only to be feared if it comes from government (i.e. power accountable to the people), not if it comes from big business (completely unaccountable to the people).” This seems like a common misconception. Of course, business, whether big or small, is fully accountable to the people qua consumers. They also have contractual obligations to their business partners and employees.
Posted: July 23rd, 2008 under Economics.