In the 1830, the United States experienced an extraordinary development in all aspects, from political to economic and to social. There was a massive intercontinental emigration to the US wherein almost one fourth of the European labor force and one tenth of the average population in Europe moved to US and boosted the economy of United States. The studies clearly demonstrate the economic progress in the year of 1830 lead to extraordinary growth in labor force which stood the same till World War I (Tocqueville, 2010). The capital stock of US also increased rapidly and steadily. One of the most common problem faces by country in 1830 was inadequate transportation due to which there were no reliable and efficient means of carrying the goods and other products to the interior.
Privilege “personhood” of the Cooperation
Personhood refers to the status of an individual. The concept or term of personhood is closely related to the political and legal aspects of liberty, equality, and citizenship. The term was widely used during the fight for women’s rights and abolition of slavery and is a topic of international debate (Pavone, 2011). In today’s era, within corporate and statutory law, there are certain social constructs which are significantly perceived as persons. Within many legal provisions, legal entities and some corporations are perceived as legal individuals or persons with standing to be sued or to sue in the court. This is known as privilege “personhood” of the cooperation. The concept of personhood is significant as the same help in protection of the rights and institutionalization of human beings. It also strengthens the premise of Constitution. It perceives that corporations are not persons and are inclusive of only those privileges which are granted or permitted to them by legal provisions. Through permitting the status of legal persons to the corporations, the Constitution and other legal provisions serve corporate interests similar to that of humans.