Lawyers are now ethically allowed to turn in clients that are stealing from the company or cooking the books. It’s funny to think of the health of a corporation as being tantamount to the health of another person who might fall victim to harm by misdeeds of a client.
I think I’m done writing about lawyers for the moment.
Smith warned against the joint-stock company as it had the following properties that made it dangerous to the stability of the Wealth of Nations:
In short, these joint-stock companies, were they to become ubiquitous, represent a threat to the viability of the “invisible hand”. Need I say Enron, Worldcom, Tyco?
It’s instructive that most who praise laissez-faire capitalism see the corporation as their mascot, a more appropriate mascot would be the guy pushing the ice-cream cart with the little bells on it.