The Corporation: A Modern Institution

Overview of Corporations

• 150 years ago, corporations were relatively insignificant.
• Today, they are pervasive and the dominant institution, akin to the church or monarchy in influence.
• This documentary examines the nature, evolution, impact, and future of corporations.
• Corporations have extraordinary power and influence due to their legal structure and societal roles.

Historical Context

• Corporations began with a narrow legal mandate but grew in influence.
• Originally chartered by states for specific purposes, e.g., building infrastructure.
• Over time, became powerful entities beyond public control.
• 14th Amendment originally intended for equal rights for Black people was used by corporations to gain personhood status.

Corporate Influence and Scandals

• Examples of corporate scandals include Enron, WorldCom, Xerox.
• Corporations are likened to "bad apples" in a marketplace.
• Media and public perception often reduce complex issues to simple narratives.

The Corporation as a Person

• Legally considered persons with rights and obligations.
• Unlike humans, corporations are mandated to prioritize profits over other concerns.
• This can result in externalizing costs to society, e.g., pollution, labor exploitation.

Corporate Ethics and Responsibility

• Corporations often prioritize short-term profits over ethical considerations.
• The issue of "externalities" where corporations pass on costs to society.
• Examples of worker exploitation and environmental damage by corporations like Nike, Monsanto.

Corporate Power and Global Influence

• Corporations operate globally, often beyond the control of individual governments.
• Historical ties to despotic regimes for profits, e.g., IBM's role during Nazi Germany.
• Modern example: Bechtel in Bolivia privatizing water resources.

The Role of Government and Regulation

• Corporations often influence or escape regulation.
• Public institutions historically acted as checks on corporate power.
• Privatization trends in essential services like water, healthcare, and education.

Consumerism and Marketing

• Corporations invest heavily in marketing to create consumer demand.
• Target children and vulnerable groups with sophisticated marketing strategies.

Corporate Accountability and Resistance

• Various movements resist corporate dominance, advocating for public control and ethical business practices.
• Examples include Walmart and Kathie Lee Gifford sweatshop exposure.

Future Considerations

• The need for a new industrial revolution focused on sustainability.
• Encourages individuals to take responsibility and push for systemic change.
• Emphasizes grassroots movements and community-based solutions.

Conclusion

• Corporations are powerful, but not inherently responsible or ethical.
• Resistance and reform are possible and necessary for a sustainable future.