Our indulgence through oil begins, historically, with the indulgence of corporations. The explosion at BP’s Deepwater Horizon rig begins with the first stock issued to the Dutch East Indies Corporation. Here’s a question for you to ponder. What do nation states have that previous city states did not have?
The answer is not great territories or the militias to control them. The answer is not “the wise restraints that make men free” known as laws or democracy. The answer is not public works or a tax system to fund them. The answer is not free market conditions or progress.
The most glaring, unique characteristic of nation states not shared by earlier city states is the business corporation. Granted, they developed somewhat independently. The 100 Year War was a major impetus for nation states and colonial expansion was a major impetus for corporate stock. Yet they developed at close to the same time and have been coevolving ever since, for good reason.
Corporations provide the wealth to legitimize the power of nation states, without appearing as imperial bullies. In return, nation states provide their power and much more, a topic often broached on this forum, for corporations to be able to compete and survive. If we abide by the definition of indulgence as others doing things for you, combined with the realization that corporations simply could not do well or even exist without nation states, while proprietorships could, we must conclude that the legacy of indulgence over oil begins with this historical indulgence of corporations in general.
Tags: Economic Misinformation, Political Misinformation, Public Interest
