Tony Marinov The Corporation The documentary illustrates corporations to have started as something for the "public good". The film discusses original chartered corporations with clear stipulations to avoid the multitude of injustices apparent today. This background information creates the outline for how far corporations have strayed from their role as a social betterment. In the mid-1800s the corporation emerged as a legal "person." Imbued with a "personality" of pure self-interest, the next 100 years saw the corporation's rise to dominance. The corporation created unprecedented wealth but at what cost? The remorseless rationale of "externalities" (as Milton Friedman explains, the unintended consequences of a transaction between two parties on a third) is responsible for countless cases of illness, death, poverty, pollution, exploitation and lies. Defining externalities for corporations, whereas the corporation manages to get the public to pay for as many of their costs as they can. The Corporation points out to many externalities in detail in the film, the first big one being sweatshops. The film shows evidence of sweatshops making 178 dollar suits pay workers only 74 cents per suit.
- Winter '20
- Capitalism, Corporation, Slavery in the United States, Tony Marinov