What The Founding Fathers Thought About Corporations

Discussion in 'Politics' started by Dick Tuck, May 16, 2012.

  1. Dick Tuck
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    Yes, it's just a blog. But it makes an interesting argument, using facts. So instead of shooting the messenger, and feeble minded flaming (from both sides). Let's try something new, and have an intelligent discussion (yeah, I know I'm dreaming).

    What The Founding Fathers Thought About Corporations

    One interesting observation comes from Jefferson.

    How well did he describe our financial near collapse of 2008? It seems to predict what will happen if we allow financial institutions to become "too big to fail" pretty well.

    Then you have Lincoln:

     
  2. SniperFire
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    Jefferson can be quoted to take both sides of any issue.
     
  3. WillowTree
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    what do you plan on replacing corporations with?
     
  4. SniperFire
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    The Nanny State, of course!
     
  5. g5000
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    Corporations should not be replaced. We just need to make sure there are safeguards which prevent the unnatural redistribution of wealth from the pockets of the common man into the rich man's vault.

    If the law and its enforcers allow the defrauding and robbing of ordinary people, then our Republic is in jeopardy.
     
    Last edited: May 16, 2012
  6. Dick Tuck
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    What quotes did you have in mind? He, like many changed their pov when confronted with pragmatic choices. One in particular is the "small government" Madison, who fought against a National Bank, but did a 180 after Washington was burned, after the failure of the local militias to stop the British at the Battle of Bladensburg. It also turned him around about reliance on local militias, who lost that battle, in spite of having 2 to 1 superiority in troops.
     
  7. g5000
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    Not really. Jefferson strongly believed in a progressive tax system and an agrarian society. He strongly opposed federalism. There is not much mystery to where he stood on issues.

    The problem is using the term "Founding Fathers" as though they were monolithic in their opinions and backgrounds. Casual examination shows they were far from agreement on all matters.

    For example, the polar opposite of Jefferson was Hamilton. I'm sure you could find all kinds of supportive statements from Hamilton when it comes to businesses and banks. Especially banks.

    The GOP has strayed a long way from Jeffersonian ideals. It is more representative of Hamilton's views these days.
     
    Last edited: May 16, 2012
  8. Dick Tuck
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    I wouldn't. World commerce is too complex today. What I would do is regulate them, especially in areas that threaten our Republic. When owners of corporations receive the benefit of limited liability, they have to give up something in return. Do you know that the founders cancelled the corporate charter of the company building the Erie Canal, because the corporation tried to use their largess to influence legislation?

    Consider the real Boston Tea Party. George III gave the East Indian Tea Company an exclusive franchise in the states, in return for them collecting taxes on their sales. Our patriots boarded their ships, and threw their property over the side, into Boston's harbor. They made Occupy Wall Street look like pikers in their actions.
     
  9. Oddball
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    Was this the same Thomas Jefferson who owned slaves and had an illegitimate child with one of them?
     
  10. Dick Tuck
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    One and the same, but lets try not to stray off topic. He was also co-author of the Declaration of Independence and our third president. One could reasonably call him one of our founders. Now, there's also his partner in the authorship of that great document, John Adams, who wrote:

    “Banks have done more injury to the religion, morality, tranquility, prosperity, and even wealth of the nation than they can have done or ever will do good.”

    John Adams didn't poontang or own slaves. His son even advocated for the slaves on the Amistead.
     

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