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October 27, 2008

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One important lesson that Ancient Rome teaches us about corporate law is to not ignore its social and political setting. This lesson is one of the key insights from my study of the ancient sources, because at first glance, those sources seem to be incompatible with one another: Romans knew, as the societas, the societas publicanorum, and the peculium demonstrate, how to combine capital and share risks; they also had a basic understanding of the structural features that help further the idea of capital associations; and they were aware of the endeavors that demanded greater sums of capital, such as maritime trade or state contracts. But why then, one wonders, did the Roman businessmen refrain from establishing larger capital associations? My analysis suggests that the limiting factors are to be found rather in the social and political than in the economic and legal environment. The latter needs special emphasis: Contrary to widespread belief, Roman law probably had only limited influence on the capital associations’ size, and cannot be blamed as the main reason why Roman business entities remained small. Of course, it is true that the legal regime could have made capital associations more attractive to investors, for instance by a statutory protection of their private assets, and more appealing to businessmen, such as by shielding common assets from the investors’ and their creditors’ claims. The large number of special rules for trade and commerce (for example about the merx peculiaris, the institor, the magister navis or the societas publicanorum) shows


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don’t buy that these guys would have actually been capable of such an ambitious plot. If they did even half of what they were “planning” to do, it would have been an unprecedented event in US crime history. Worst case would probably have these pathetic dolts shooting some people at a library or something, and then killing themselves in that confused terror that usually swallows people with the type of mental disorder that gives them delusions like these. Now that they’ve been so publicly arrested on suspicion and weapons violations they’ll probably be convicted of something. But they’ll be out eventually and it probably won’t be nice to see what they’ve become after some prison time. I guess we’re supposed to believe that they’ll be all reformed and ready to function in society after a few years in that mismanaged system. Right?

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‘Notes’ is the ‘Shawshank Redemption’ of this multi-talented registered nurse, grown-ass woman, subject not object, one, Adrienne Zurub! (Though not centered on any murderous wrongdoing!) “Everything that is important is invisible” is a quote within the book that buttresses the impetus and prevailing theme within this book and its stories. Themes of invisibility, self-negation, obsession, and sexism amongst others (patient advocacy, stand up comedy, theater, etc.) are played out, and evolved in the arena of cardiothoracic surgery, at a world renowned open heart facility. Essentially and philosophically we choose our respective battlegrounds.

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