Is the Real Problem With Big Tech Censorship the Unfair Government Protection Given To Corporations?

Posted by freedomforall 1 month ago to Business
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"To solve the social media censorship debacle we need to examine the very roots of corporations as entities. First, corporations as we know them today are a relatively new phenomenon. Adam Smith described the concept of a corporation as a “joint stock company” in his treatise ‘The Wealth Of Nations’, and stood against them as a threat to free market economics. He specifically outlined their history of monopoly and failure, and criticized their habit of avoiding responsibility for mistakes and crimes.

Joint stock companies were chartered by governments and given special protections from risk, as well as protection from civil litigation (lawsuits). But, they were supposed to be temporary business entities, not perpetual business entities. The point was to allow for the creation of a joint stock company to finish a particular job, such as building a railroad, and once the job was finished the company was dissolved and the government protections were no longer needed. Smith knew that if corporations were ever allowed to become permanent fixtures in an economy, they would result in disaster.

This is exactly what happened in 1886 when the Supreme Court allowed companies like Southern Pacific Railroad to use the 14th Amendment, which was supposed to protect the constitutional rights of newly freed slaves, as a loophole to declare corporations as “legal persons” with all the protections of an individual citizen. Not only that, but with limited liability, corporations actually became super-citizens with protections far beyond normal individuals. Corporations became the preeminent force in the world and it was their relationship with governments that made this possible.

This fact completely debunks today’s notion of what constitutes free markets. Corporations ARE NOT free market structures. They are, in fact, government chartered and government protected monopolies. They are SOCIALIST creations, not free market creations, and therefore they should not exist in a free market society at all.

The alternative option to corporations was for businesses to form “partnerships”, which did not enjoy protection from government, limited liability or the ability to form monopolies. When the owners of a partnership committed a crime, they could be personally held liable for that crime. When a corporation commits a crime, only the company as a vaporous faceless entity can be punished. This is why it is very rare to see company CEOs face prosecution no matter how egregious and catastrophic their actions.

Today, certain corporations continue to enjoy government protections while also enjoying government welfare. Meaning, these companies get a legal shield while also basking in the advantage of tax incentives and taxpayer dollars.

For example, Google (Alphabet and YouTube) has long received huge tax breaks and is rarely if ever forced to pay in full for the massive bandwidth the company uses. In fact, YouTube was facing bandwidth affordability issues until it was purchased by Alphabet and Google, then it no longer had to worry about it – Google gets over 21 times more bandwidth than it actually pays for because of government intervention.

The same rules apply to companies like Twitter, Facebook, Netflix, Apple, etc. All of them enjoy extensive tax breaks as well as cheap bandwidth that makes it impossible for small and medium sized businesses to compete, even if they operate on a superior model or have superior ideas. Many times the corporations pay no taxes whatsoever while smaller businesses are crippled by overt payments.

A true free market requires competition as a rule, but the current system deliberately crushes competition. Again, we live in a socialist framework, not a free market framework."
SOURCE URL: https://alt-market.us/there-is-a-solution-to-big-tech-censorship-but-no-politician-will-touch-it/


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