With regard to how modern private business organizations came to be called 'corporate' it might be due to how American law defined certain kind of stock-based ownership entities whose creation was justified in the name of 'private entities pursuing public interests'.
Communities that wanted major civil engineering works (bridges, roads, sewers) done sooner rather than later but didn't have the banking credit or tax-base to pursue turned to private investors who would put the money up and run the building project for a guaranteed return from tolls. In order to provide some legal structures around this private-public arrangement, laws were created for a new legal entity that was called 'corporate'.
I don't know why 'corporate' was chosen as the descriptor for this legal entity but given that the original examples were private investment in public 'goods' my assumption is the selection had some to do with Catholic social teaching's use of 'corporate'.
Yes, I'm pretty sure the explanation does indeed follow such lines of reasoning. I would though like to find a scholarly source that actually documented the changes in legal argument tracing that evolution.
With regard to how modern private business organizations came to be called 'corporate' it might be due to how American law defined certain kind of stock-based ownership entities whose creation was justified in the name of 'private entities pursuing public interests'.
Communities that wanted major civil engineering works (bridges, roads, sewers) done sooner rather than later but didn't have the banking credit or tax-base to pursue turned to private investors who would put the money up and run the building project for a guaranteed return from tolls. In order to provide some legal structures around this private-public arrangement, laws were created for a new legal entity that was called 'corporate'.
I don't know why 'corporate' was chosen as the descriptor for this legal entity but given that the original examples were private investment in public 'goods' my assumption is the selection had some to do with Catholic social teaching's use of 'corporate'.
Yes, I'm pretty sure the explanation does indeed follow such lines of reasoning. I would though like to find a scholarly source that actually documented the changes in legal argument tracing that evolution.
Thanks!
'Bowen goes on then to emphasis the relevance of studying corporatism within German history'. Should 'emphasis' be 'empathize'?
Good grief. I read these things over and over again and still never find all the errors.
Corrected. Thank you.