Hi everyone, although I am not personally socialist, I come in peace with a question that I am seeking to learn.
Within capitalism, the concept of “limited liability” is common. Essentially, the owners of a firm cannot be held personally liable for the wrongs of the firm. If Toyota makes dangerous airbags, the personal home of the executives cannot be seized to pay victims. Only company assets can be liquidated.
How does this work within a Marxist framework where the workers are the owners of the “firms” (or of the manufacturing plant). For example, imagine that a worker-owned plant makes faulty airbags through negligence. Would the workers be personally liable? Or would the concept of limited liability remain, and the worst that could happen would be the liquidation of the plant to repay victims’ families?
Thank you for hearing my question!
It is difficult to ascertain the broader motive for your inquiry.
Marxism is not a legal framework, only a particular revolutionary tendency.
The concept of limited liability pertains to the seizure of property only, usually against claims by creditors in case of insolvency. It confers no immunity from criminal culpability.
Socialists vary on their views of justice, but generally prefer systems of accountability that are restorative not punitive, that emphasize collective responsibility for common outcomes, and that favor practical solutions based on shared values.
If workers have been negligent, then it may be most agreeable to determine the root causes for the omissions, whether apathy, distraction, or exhaustion, in order to address the inadequacies of the system in which they occurred.