this post was submitted on 17 May 2024
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~~Take this with a grain of salt because I can't think of the proper search terms to verify what I think I remember reading:~~
Once upon a time corporations couldn't be created unless they proved a benefit to society. We really need to go back to that...
Edit: with more time I found something.
"In the United States, the first important industrial corporation seems to have been the Boston Manufacturing Co., which was founded in 1813.
Experimental in nature and spaced out in time, these early ventures grew mostly independent of one another (the article mentioned older companies from around the world that I left out) But they had one thing in common: even as for-profit ventures, they were explicitly required to serve the common good.
For the first companies, the privilege of incorporation, often via royal charter, was granted selectively to facilitate activities that contributed to the population’s welfare, such as the construction of roads, canals, hospitals and schools. Allowing shareholders to profit was seen as a means to that end. Companies were deeply interwoven within the country’s or town’s social fabric, and were meant to contribute to its collective prosperity"
Source (I know, it's not a source I'd use for a college paper): https://qz.com/work/1188731/the-idea-that-companies-should-benefit-society-is-as-old-as-capitalism
I mean, the earliest corporations were colonial expeditions, so it would depend on your definition of "benefit to society" to say if that was really a good thing.
Well at leads "youur country's" peasants benefited some how... We can't even get that from these parasites
It was good at the time because it was an improvement from the feudal system that basically said the king owns everything and allows subordinates to manage things for him with more layers down to serfs who were bound to the land they lived on. The people benefited because initially ownership spread out and different owners would compete with each other to attract workers or renters.
At this point, the issue is that things are getting consolidated and looking more and more like the feudal system, only with corporations at the top owning most assets instead of kings (which also creates a layer of indirection obscuring the true owners behind the corporations, other than some of the more attention seeking ones like Musk, Gates, or Bezos).
The exploitation of the colonized people and stealing their resources acted as a multiplier to this. Supply increased, so prices decreased for demand to meet the new supply.