The Artificial Person and Structures of Economic Power
Apart from the social power o f groups, the modem economic unit is a
collectivity. John Kenneth Galbraith (1967) has argued that in the modem
economy the person has been displaced by the successful creation o f an
artificial person (a so-called legal person, see Nobel 1978, 1980), by
organizations which are much superior to natural persons for their specific
purposes and have the added advantage o f potential immortality.