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The principle originated during the Ancien Régime, with increasing criticism of the guilds and corporations that restricted economic activities. Anne Robert Jacques Turgot, as Controller-General of Finances, championed this principle in his preamble to the 1774 royal decree on grain trade, asserting that "the freer the trade, the more quickly and abundantly the people are supplied."
However, given the restrictive nature of state corporation laws, many companies preferred to seek a special legislative act for incorporation to attain privileges or monopolies, even until the late nineteenth century. In 1819, the U.S. Supreme Court granted corporations rights they had not previously recognized in Trustees of Dartmouth College v.
The notion of a legally sanctioned corporation remains controversial for several reasons, most of which stem from the granting of corporations both limited liability on the part of its members and the status and rights of a legal person. Some opponents to this granting of "personhood" to an organization with no personal liability contend that ...
Due to its popularity, it's often said that more Monopoly money -- $15,140 per game -- is printed each year than is printed of real U.S. paper money, but that's not true.
De Beers is one of the most controversial companies among the biggest monopolies of all time, which is saying something. The company is 133 years old and has operations in 35 countries regarding ...
Some large U.S. corporations have used a strategy called tax inversion to change their headquarters to a non-U.S. country to reduce their tax liability. About 46 companies have reincorporated in low-tax countries since 1982, including 15 since 2012. Six more also planned to do so in 2015. [32]
Darcy v Allin was the first definitive statement by a court that state-established monopolies are inherently harmful and therefore contrary to law. The case has since come to be known as The Case of Monopolies, and the arguments set forth therein have served as the basis for modern antitrust and competition law. It drew considerably on ...
With Monopoly just having turned 80 this year, many real-life personal-finance lessons can be learned from the classic money-loving board game, which is now made in 47 languages and sold in 114 ...