Essay about Is Grace Mining A For Profit Corporation?

1053 Words Nov 15th, 2015 null Page
A. Capitalism: Page 394; An economic system built around the private ownership of the means of production, the pursuit of profit, and market competition.

Grace mining is a for profit corporation. So much so, they found the need to keep quiet about the potential health hazards of working for their company. This corporation formed in 1919, and even though the corporation knew of the health hazards. They allowed their employees to become sick with lung diseases. By their ignoring these health hazards, they are now operating in another country where people are even less apt to pay attention to the health risk of working for this company. This corporation has little to no regard for their employees, so little regard that they will literally kill their employees with life threatening illness just to turn a profit.

B. Corporation: Page 400; A business enterprise whose assets, liabilities, and obligations are separate from those of its owners; as legal entity, it can enter into contracts, assume debt, and sue and be sued.

Because this business holds the status of a corporation, they could be sued for the injury done to their employees and by the United States Government. However, the Government Corporation failed to sue this corporation for the cleanup to the environmental damage they caused in Libby and they failed to hold the corporation accountable for all of the health issues that they caused for generations to come in this community. The government’s failure to move…

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