113. Why the NY Stock Exchange Is Bad for Federalism: A Discussion of the Problems of Distributed Ownership

Many people talk about renewing federalism in response to the centralized administrative state. And those who like to talk about possible political solutions to the centralization of power almost never acknowledge that business and economic consolidation leading to national and multi-national corporations is almost as much, if not more, of a problem than the political consolidation of power. If we are to devolve political power, returning it to a more local scale, in a way that does not break society, it must be understood that we must localize economic activity and scale first. Grappling with that hornet’s nest of problems means addressing the question of distributed ownership and the criminal and civil liability of owners for the actions of their business ventures. I have

Ronald Dodson

and

The Black Horse

on to discuss the subject.