It is well to consider during our deliberations the amorality of corporations, created to shield investors from liability and for the legal obligation to generate profit. It isn’t that they are inherently bad, but being artificial persons they have no conscience. Short term profit always trumps long term societal good. In the words of Thomas Jefferson,
“Merchants have no country. … I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country.”
The founders were unable to crush that aristocracy, though they tried. Abraham Lincoln observed:
“I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed.”
Fifty years later, President Teddy Roosevelt broke up the too big to fail corporations of his era, and thirty years on, President Franklin Delano Roosevelt acted again to reign in corporate power.
The American Dream is ever threatened by greed, and ever defended by true patriots. May we always, in this chamber, be ready to defend the life, liberty and happiness of the people we serve.
