Professor Stephen Bainbridge, one of the country’s foremost experts on corporate law, who is often cited in the decisions of Delaware courts, writes here about why he loves corporations, with citations and quotes from luminaries throughout history to support his position. For example, he quotes Michael Novak as follows:

… private property and freedom of contract were “indispensable if private business corporations were to come into existence.” In turn, by providing centers of power separate from government, corporations give “liberty economic substance over and against the state.”