Limited Liability: Difference between revisions
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Revision as of 18:48, 6 October 2019
The formal definition is a type of legal structure for an organization where a corporate loss will not exceed the amount invested
The practical definition is that corporations can get away with murder and not be liable.
Limited liability is not a sound a-priori principle of enterprise operation, and its antidote is accountability or ethical enterprise. This means that into existing structures, standards, and norms of enterprise operation - we must inject environmental and social accountability.
Perhaps the best solution is for any individual to act ethically as a personal requirement. Currently, this must be a personal requirement, as legally, one is not bound to ethical behavior.
Ethical behavior can starts with society gaining a deeper level of scientific literacy such as physics, mathematics, biology. This tends to lead to understanding the principles of open source ecology.