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	<title>Comments on: King for a Day</title>
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	<link>http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day</link>
	<description>Ben Hyde</description>
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		<title>By: Ascription is an Anathema to any Enthusiasm &#8250; Cost Benefit Analysis</title>
		<link>http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/comment-page-1#comment-4568</link>
		<dc:creator>Ascription is an Anathema to any Enthusiasm &#8250; Cost Benefit Analysis</dc:creator>
		<pubDate>Mon, 14 Jun 2010 15:04:10 +0000</pubDate>
		<guid isPermaLink="false">http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/#comment-4568</guid>
		<description>[...] post about externalities (which reminds me of my realization that limited liability corporations evolved from pirates) is this bit from a Rolling Stone article.  It&#8217;s a nice clean example of cost benefit [...]</description>
		<content:encoded><![CDATA[<p>[...] post about externalities (which reminds me of my realization that limited liability corporations evolved from pirates) is this bit from a Rolling Stone article.  It&#8217;s a nice clean example of cost benefit [...]</p>
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	<item>
		<title>By: Ascription is an Anathema to any Enthusiasm &#8250; Bribing the Pirate</title>
		<link>http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/comment-page-1#comment-1643</link>
		<dc:creator>Ascription is an Anathema to any Enthusiasm &#8250; Bribing the Pirate</dc:creator>
		<pubDate>Tue, 24 Mar 2009 15:10:27 +0000</pubDate>
		<guid isPermaLink="false">http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/#comment-1643</guid>
		<description>[...] may be perfectly happy to have their managers take risks that will kill the company; since limited liability shelters them from the full magnitude of the down side while they are likely to get much of the [...]</description>
		<content:encoded><![CDATA[<p>[...] may be perfectly happy to have their managers take risks that will kill the company; since limited liability shelters them from the full magnitude of the down side while they are likely to get much of the [...]</p>
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	<item>
		<title>By: Ascription is an Anathema to any Enthusiasm &#187; Blog Archive &#187; Bribing the Pirate</title>
		<link>http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/comment-page-1#comment-284</link>
		<dc:creator>Ascription is an Anathema to any Enthusiasm &#187; Blog Archive &#187; Bribing the Pirate</dc:creator>
		<pubDate>Wed, 19 Dec 2007 15:19:47 +0000</pubDate>
		<guid isPermaLink="false">http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/#comment-284</guid>
		<description>[...] It&#8217;s fascinating to me how capital/shareholders may be perfectly happy to have their managers take risks that will kill the company; since limited liability shelters them from the full magnitude of the down side while they are likely to get much of the upside. So the pattern seen above maybe what the owners want. [...]</description>
		<content:encoded><![CDATA[<p>[...] It&#8217;s fascinating to me how capital/shareholders may be perfectly happy to have their managers take risks that will kill the company; since limited liability shelters them from the full magnitude of the down side while they are likely to get much of the upside. So the pattern seen above maybe what the owners want. [...]</p>
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	<item>
		<title>By: Ascription is an Anathema to any Enthusiasm  &#187; Blog Archive   &#187; The Perception of Risk</title>
		<link>http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/comment-page-1#comment-283</link>
		<dc:creator>Ascription is an Anathema to any Enthusiasm  &#187; Blog Archive   &#187; The Perception of Risk</dc:creator>
		<pubDate>Sun, 23 Apr 2006 14:34:47 +0000</pubDate>
		<guid isPermaLink="false">http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/#comment-283</guid>
		<description>[...] d time to take risks and a bad time to be risk adverse. 	I&#8217;ve also written about how limited liablity is a delightful scheme to shape the risk so that corporations will t [...]</description>
		<content:encoded><![CDATA[<p>[...] d time to take risks and a bad time to be risk adverse. 	I&#8217;ve also written about how limited liablity is a delightful scheme to shape the risk so that corporations will t [...]</p>
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		<title>By: Jamie McCarthy</title>
		<link>http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/comment-page-1#comment-280</link>
		<dc:creator>Jamie McCarthy</dc:creator>
		<pubDate>Mon, 13 Sep 2004 17:44:41 +0000</pubDate>
		<guid isPermaLink="false">http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/#comment-280</guid>
		<description>Fascinating, thanks. I&#039;ve added the book to my wishlist, &lt;a href=&quot;http://mccarthy.vg/article.pl?sid=04/08/31/1634227&quot;&gt;laboriously&lt;/a&gt;.

I found myself thinking about how we were told last year that the dividend tax was &quot;double&quot; taxation, which seems to me to presume that corporate investors are &lt;em&gt;part of&lt;/em&gt; the corporation, in the way that my liver is part of my corpus: indivisible, with no benefits provided to the investor-corporation relationship by the government. Being reminded of the liability limitation makes it easier to realize that dividends are a transaction like any other, not akin to a corporation shuffling paper to move funds from one department to another, but an actual payment for services that are regulated.</description>
		<content:encoded><![CDATA[<p>Fascinating, thanks. I&#8217;ve added the book to my wishlist, <a href="http://mccarthy.vg/article.pl?sid=04/08/31/1634227">laboriously</a>.</p>
<p>I found myself thinking about how we were told last year that the dividend tax was &#8220;double&#8221; taxation, which seems to me to presume that corporate investors are <em>part of</em> the corporation, in the way that my liver is part of my corpus: indivisible, with no benefits provided to the investor-corporation relationship by the government. Being reminded of the liability limitation makes it easier to realize that dividends are a transaction like any other, not akin to a corporation shuffling paper to move funds from one department to another, but an actual payment for services that are regulated.</p>
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	<item>
		<title>By: Ben Hyde</title>
		<link>http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/comment-page-1#comment-282</link>
		<dc:creator>Ben Hyde</dc:creator>
		<pubDate>Mon, 13 Sep 2004 15:14:26 +0000</pubDate>
		<guid isPermaLink="false">http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/#comment-282</guid>
		<description>&quot;Few native earthworms exist in the nothern-most reaches of the continental United States. Most species were forced south in the last major glaciation, which ended 10,000 years ago.

While American earthworm species have been slow to recolonize the northern-most reaches of the U.S., European earthworm species, first introduced by colonial settlers, have made themselves at home in the country&#039;s northern climes for several centuries.&quot;
  - http://news.nationalgeographic.com/news/2003/01/0102_030102_earthworms.html

I think I first read about this example of displacement in &lt;a href=&quot;http://allconsuming.net/item.cgi?isbn=0881504203&quot;&gt;Reading the Forested Landscape&lt;/a&gt;, which I can&#039;t too highly recommend.</description>
		<content:encoded><![CDATA[<p>&#8220;Few native earthworms exist in the nothern-most reaches of the continental United States. Most species were forced south in the last major glaciation, which ended 10,000 years ago.</p>
<p>While American earthworm species have been slow to recolonize the northern-most reaches of the U.S., European earthworm species, first introduced by colonial settlers, have made themselves at home in the country&#8217;s northern climes for several centuries.&#8221;<br />
  &#8211; <a href="http://news.nationalgeographic.com/news/2003/01/0102_030102_earthworms.html" rel="nofollow">http://news.nationalgeographic.com/news/2003/01/0102_030102_earthworms.html</a></p>
<p>I think I first read about this example of displacement in <a href="http://allconsuming.net/item.cgi?isbn=0881504203">Reading the Forested Landscape</a>, which I can&#8217;t too highly recommend.</p>
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	</item>
	<item>
		<title>By: Jamie McCarthy</title>
		<link>http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/comment-page-1#comment-281</link>
		<dc:creator>Jamie McCarthy</dc:creator>
		<pubDate>Mon, 13 Sep 2004 14:07:24 +0000</pubDate>
		<guid isPermaLink="false">http://enthusiasm.cozy.org/archives/2004/09/king-for-a-day/#comment-281</guid>
		<description>Are you serious about the earthworm invading North America and changing its ecology, or was that just a metaphor?</description>
		<content:encoded><![CDATA[<p>Are you serious about the earthworm invading North America and changing its ecology, or was that just a metaphor?</p>
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