Premature dissolution can be a rational corporate response to the threat of future liability. Although early dissolution is costly to a firm, liability may be more so. The way in which liability rules can exacerbate this extreme form of liability avoidance is of interest, since "fly-by-night"...

If there has been a dominant trend in the evolution of the modern industrial societies of this century it has been the growing importance of government in the allocation of social resources. It is important that we appreciate the fundamentally political nature of the formation of government...