So Libertarian absolutists like you not only want to destroy government as we know it, but also wish to destroy the most historically effective vehicle for collecting capital and putting it to use as well, eh? You really want to destroy the village in order to save it, don’t you?
And make no mistake, destroying corporate personhood effectively destroys the corporate form of business. Taking away the right of corporations to enter into contracts and to sue and be sued essentially takes away the advantages of the corporate form. And the corporate form – and specifically, the limited liability it provides to investors – is one of the single most important innovations in modern economic history.
Seriously, how does your proposed system work, anyway? Say XYZ Corp. has a CEO, Bob. The corporation needs to buy widgets. But XYZ under your system can’t enter into contracts. So who does? Bob? Suppose Bob’s personal bank account doesn’t have enough to cover the widget order. What then? Does each individual shareholder have to sign the widget contract, pledging their interest in the corporation as collateral on the purchase? Can they each be pursued personally, even beyond losing the value of their shares, if the corporation breaches?
Is there no respondeat superior in your dream world? If an employee, in the course of carrying out his daily duties, negligently injures a third party with no wrongdoing on the part of his superiors, is the injured party limited to looking to the employee for recourse? Does the corporate entity from which the employee draws his paycheck have no obligation to pay?
Do investors even have limited liability in your dream world?
Really, please, flesh this out, because I’m curious to hear.
Von Mises was no antigovernment zealot looking to eliminate the state entirely. In fact, he favored democratic institutions. His beef was with the collectivization going on during his lifetime worldwide, with the rising bureaucracy and regulatory state, and with government interference with free market processes (beefs I share, BTW). His contributions to laissez-faire economics can’t be overstated, but your citation to him here is silly.
What safeguards us from you gathering signatures and declaring yourself emperor is the existence of well-considered democratic institutions and processes. That’s what I was referring to when I suggested you pick up a civics text. I thought that was reasonably clear, but apparently I was mistaken.