““[A corporation is] a collection of many individuals united into one body, under a special denomination, having perpetual succession under an artificial form, and vested, by policy of the law, with the capacity of acting, in several respects, as an individual.41 This legal fiction, recognizing “a collection of many individuals” as a new kind of individual, turned out to be a winning formula. It let people place themselves into a new kind of boat within which they could divide labor, suppress free riding, and take on gigantic tasks with the potential for gigantic rewards. Corporations and corporate law helped England pull out ahead of the rest of the world in the early days of the industrial revolution.””
![“[A corporation is] a collection of many individuals united into one body, under a special denomination, having perpetual succession under an artificial form, and vested, by policy of the law, with the capacity of acting, in several respects, as an individual.41 This legal fiction, recognizing “a…” quote by Jonathan Haidt](https://sms4smile.com/quotes/img-quotes/e74/jonathan-haidt-1823_industrial-revolutio_a-corporation-is-a-collection-of-many-in_2256377.jpg)
