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“the US founders had a healthy fear of corporations after being exploited for years by those in England. As a result, they only granted select corporate charters, mainly to those that were beneficial to society as a whole. For the better part of the first 100 years of US history, the power of corporations was severely limited as owners could not own any stock or property, make financial donations to a political party, and legislators could dissolve a corporation at any time relatively easily."
"Corporations did not have the same corporate veil of protection that are enjoyed today.
"The shift towards corporations gaining more power and control happened as the US progressed towards industrialization. The Civil War wildly enriched corporations and with this new wealth came bribes to legislators and courts that allowed for increased liability protection and other corporate protections. The 1886 #SCOTUS case Santa Clara v. Southern Pacific decided that #corporations were people"
Source: wikipedia, history of articles of incorporation in the US:
https://en.wikipedia.org/wiki/Articles_of_association#History_of_corporations_in_the_United_States
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#corporations #corruption #ushistory