More stupidity from the New York Times editorial board.
The question at the heart of one of the biggest Supreme Court cases this year is simple: What constitutional rights should corporations have? To us, as well as many legal scholars, former justices and, indeed, drafters of the Constitution, the answer is that their rights should be quite limited — far less than those of people.
This is, of course, utter nonsense.
While it is true that corporations are "mere creatures of law," as John Marshall put it, it is also true that they are, at their core, nothing more than voluntary associations of free individuals (unlike, e.g., labor unions, which are also creatures of government — but unlike corporations are granted coercive powers over unwilling parties).
It is absurd in the extreme to suggest that two free individuals acting jointly can somehow have "less rights" than those two same free individuals would have acting individually.
Any voluntary association of free individuals must, by definition, have all the same rights as the free individuals comprising that association. To suggest otherwise is, of course, to trample the rights of the individuals — something the Times of course advocates practically every day of the week.
More:
The law also gives corporations special legal status: limited liability, special rules for the accumulation of assets and the ability to live forever. These rules put corporations in a privileged position in producing profits and aggregating wealth.
First, a correction: corporations do not have "limited liability" — shareholders have limited liability, in exchange for limited power over the corporation (another bugaboo that keeps Times editors awake at night — see generally, "executive pay"). But what does this voluntary arrangement among shareholders have to do with their joint rights as free individuals? The limited liability canard is a total non sequitur.
And note the simplistic "Gilded Age robber baron" paranoia of "corporation as leviathan." Remember, these are same supposedly evil, profits-now-and-forever monstrosities that are almost completely owned by pension funds (including government- and union-managed pension funds), university and other non-profit endowments, and various other civic entities that must be deemed, according to the Times' kindergarten logic, greedy capitalist bastards.
Finally, recall that no matter how "privileged a position" a corporation may have, people always (or at least when government stays out of it) have an even more privileged position: the position of not having to do business with it. No matter how gargatuan General Electric, Microsoft, Wal-Mart, Kraft or Altria become, you can always (or at least when government stays out of it) say, "No thanks."
—
A post script to my minarchist comrades who, like our common liberal opponents, are leery of corporations and their supposed power: Never forget that the problem with corporate rent-seeking is the rent-seeking, not the corporation. Keep the focus on where it should be: on limiting the power of government to favor some groups over others. If politicians have nothing to offer, then nobody — including corporations — would try to buy them.