States of Stupidity

Illustrations from The People's Cube

There's a new sort of corporate law being promoted in a couple of states as a sort of "Carrot" to the federal "Sticks" being swung about by the Washington "Change Makers".

The state of Maryland has passed a version and the state of Vermont is in the process of creating a special class of corporation called a "B" (for benefit) class corporation that will receive special protection by the state in matters involving competition and free market transactions of their debt and shares.

All a business has to do to be granted the "special" status is undertake a 90 minute interview with regulators and incorporate certain "language" into their charter.

If everything goes according to plan government bureaucrats will be granted the power to enforce whatever notions of political correctness and progressive social policy they see fit while seeing to it that private investors will be suitably constrained from exercising their prerogatives.

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Now where have we seen this sort of thing before?

OMMAG