Does the Economy Need Corporations? [No. 86] 

People can enter into business partnerships without formally incorporating. Does society need corporations for a functional economy? Professor Robert Miller explains that as the economy grew with the industrial revolution, businesses needed a way to operate and raise capital on a large scale. The corporate form allows investors, large and small, to contribute money while relieving them of managerial responsibilities and liability. #law #no86 #lawschool #lawstudent #corporatelaw
Robert T. Miller is the F. Arnold Daum Chair in Corporate Finance and Law and the Associate Dean for Faculty Development at the University of Iowa College of Law.
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As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.