What would libertarians do about concentrations of corporate power?
Create a more fluid economic environment in which they’d break up. This happens naturally in a free market; even in ours, with taxes and regulatory policies that encourage gigantism, it’s quite rare for a company to stay in the biggest 500 for longer than twenty years. We’d abolish the limited-liability shield laws to make corporate officers and stockholders fully responsible for a corporation’s actions. We’d make it impossible for corporations to grow fat on “sweetheart deals” paid for with taxpayers’ money; we’d lower the cost of capital and regulatory compliance, encouraging entrepreneurship and lowering the optimum size of the business unit.
