The Bubble Act

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The article explains how public corporations started from its early stages in England in the sixteenth century where solicitors would sell stocks in fabricated companies trying to take advantage of people. After the collapse of the South Sea Company due to the major plague and realizing that’s it’s a scam, politicians banned it. Bakan also explains the Bubble act, "As for the corporation itself, in 1720 parliament passed the Bubble Act, Which made it a criminal offence to create a company "presuming to be a corporate body," and to issue "transferable stocks without legal authority" (Bakan, P. 60). The Bubble was used as a way of controlling the competition. Baken discusses how the fourteenth amendment which is citizen rights and equal protection

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