[This is an edited re-post.]
Libertarians have not quite focussed on how the state grant of limited liability to shareholders - something that cannot be obtained merely by voluntary transactions) has set in motion and greatly fuelled the growth of the state and battles over the wheel of government -- battles in which insider elites, generally acting through corporations, have the overwhelming advantage.
I have posted extensively on limited liability; for the interested reader perhaps the following post will be a quick introduction:
The Cliff Notes version of my stilted enviro-fascist view of corporations and government
For those of you who prefer NOT to let their fingers do the walking, I have noted elsewhere that (ed: some slight revisions):
"I am NOT arguing FOR a general rule that shareholders SHOULD be liable for corporate torts; rather, I have: