Changing the law on limited liability is the nuclear option, but it could force errant firms to repent
Roll the clock back 36 years. It is December 1978 and the so-called winter of discontent is in its early stages. Over the next couple of months the papers will be full of stories about rubbish piling up in the streets and of cancer patients failing to receive treatment. Britain is gripped by widespread industrial action, but public support for strikes is crumbling.
A few months later, in May 1979, a new government arrives in power. Despite failed attempts in the recent past, it decides that something must be done to curb the power of organised labour. Self-regulation has failed, the administration of Margaret Thatcher decides. It is time to use the power of the state to end abuses.
Continue reading...