I've made my reading project to read through 12 volumes of works by Alexander Hamilton. This has already yielded dividends. One argument I have is with those libertarians and conservatives who confuse individual initiative with corporate initiative. During Hamilton's time there was a clear distinction. Alexander Hamilton said this about Corporations, referring to the model for modern conglomerates, the "East India Company" in 1795:
"The European intercourse with Asia is, in most cases, conducted by corporations or exclusive companies, and all experience has proved that in every species of business (that of banking and a few analogous employments excepted), in conducting of which a competition shall exist between individuals and corporations, the superior economy, enterprise, zeal, and perseverance of the former will make them an overmatch for the latter; and that while individuals acquire riches, corporations engaged in the same business often sink their capital and become bankrupt." The Works of Alexander Hamilton, (Federal Edition), vol. 6: [http://oll.libertyfund.org/titles/hamilton-the-works-of-alexander-hamilton-federal-edition-vol-6]
When Adam Smith and Hamilton talked of "free enterprise" they were talking about individual freedom, not corporate freedom.
I may revisit this article in the future. But I saw this quote and wanted to share it.
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