SOC208H5 Lecture Notes - Lecture 7: Status Quo, Limited Liability, Canadian Natural Resources
Document Summary
A company or group authorized to act as a single entity recognized by law. Greater demand to pool resources, encourage business, generate capital. Liability - corporations have neither bodies to be punished, nor souls to be condemned; they therefore do as they like. Their responsibility is about generating capital and making money. Times when people push the limits of profit maximization which will lead to injury/death of the workers. Adam smith"s invisible hand - everyone in the market should be able to regulate themselves. Subject to some - criminal, civil, regulatory sanctions. Recent amendment to criminal code which makes it easier to hold corporations criminally liable (wesley code) Corporate crime - illegal act or omission, punishable under administrative, civil, or criminal law which are the result of deliberate decision making or culpable negligence within a legitimate formal organization intended to benefit the corporation itself. Wcc undertaken by 1 person or a few people and corporate is everyone.
