Specific Brilliant Visions

What is a corporation? Why does it exist?

The answers to these questions will determine your standard of living.

Brad Edmonds, writing for the Mises Daily Article, does a nice job summarizing the positive case for corporations.

Corporations owe their existence to the fact that, for hundreds of years, mankind has enjoyed technology that allows a single wily entrepreneur to improve the standard of living of millions of people. A single idea, such as the automobile, can bring about major changes for all of us. Many such important ideas are difficult to realize without the aggregated savings of hundreds or thousands of individuals. Hence the invention of the corporation: a fictional legal entity, a set of relationships governed by contract and statute, that makes possible great accumulations of wealth that can be focused on specific brilliant visions.

Simply stated, corporations allow us to enjoy the productive genius of our fellow humans in ways that would not otherwise be possible. A shackled corporation is shackled genius.