IMHO, the root problem is the corporate entity, which is a creation of the State, and not a necessary aspect of capitalism.<p>The nature of the corporate entity is a problem that capitalists (including Rand) like to avoid discussing. Limited liability naturally results in risk taking. What do people expect with limited liability ??? If the shareholders were actually liable for the obligations of the corporation, I think companies would be more careful.<p>IMHO, only natural persons and partnerships of natural persons, without limited liability, should be legal entities. Getting rid of corporate "shares" also makes it harder to accumulate massive assets...partnerships get tough to deal with when you have lots of partners.