Limited liability should not be sacrosanct. Like property rights-including intellectual property-it is a creation of man, to provide appropriate incentives; when that artifice fails to fulfill its social function, it needs to be modified. (Joseph Stiglitz)

Limited liability should not be sacrosanct. Like property rights-including intellectual property-it is a creation of man, to provide appropriate incentives; when that artifice fails to fulfill its social function, it needs to be modified.

Joseph Stiglitz

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appropriate artifice creation function intellectual liability limited man modified needs property should social

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