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A Theology of Incorporation with Limited Liability

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Abstract

Those involved in business have long sought to limit their liability, either in specific contracts or, generally, for the risks they face. The widespread availability of general limited liability for corporations across the world since the early nineteenth century is thought to have contributed to the enormous economic growth over that period. The limited liability company is, however, often blamed for the adverse consequences of this growth, not least in Christian theology where limited liability is thought by some to be contrary to biblical principles. This article seeks to demonstrate that the limited liability company is not only consistent with biblical theology in encouraging prosperity and freedom under limited government, specialization with interdependence in business relationships, and broader human flourishing but also reflects the character of God in reconciling ideas of law and grace.

Stephen F. Copp, "A Theology of Incorporation with Limited Liability," Journal of Markets & Morality 14, no. 1 (Spring 2011): 35-57


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