Limited liability -- the bogyman of leftists

Leftists love to bellyache about the horrors of "limited liability", which they perceive as some corrupt conspiracy to put corporations in charge of the world, "over people".

What is "limited liability"?

It's the system where your personal financial liability for an organization is limited to the extent of your involvement in that organization.

Let's imagine a world without limited liability...

You buy one share of stock in IBM for $209.

You don't own the company. You don't control the company. You certainly don't manage the company. You don't even work at the company.

Something happens where the company is sued.

The people suing can now claim your house, car, everything else you own, and potentially garnish your wages until you die.

A world without liability that is limited to your involvement in an organization results in a primitive world, devoid of cars, airplanes, computers, and everything else that requires huge investments in time, money, and people.

Unlimited liability results in no one ever being able to assemble the resources needed to create these things.

Making people liable for things that they don't control is undoubtedly the dumbest of all the leftist fantasies.

Yet we keep hearing about this nonsense from leftist no-nothings over and over and over again.

This should tell us all something important about the leftist mindset and why we should completely dismiss everything that they say.