How can "company towns" exist?
The only reasons companies are able to grow so large is the protection afforded by incormporation, a legal fiction enforced by law. We, through our elected representatives, have decided to allow this fiction. Then we try, through these same representatives, to pile layer upon layer of regulation upon these companies to restrict how they may act.
Wouldn't it be simpler to rethink the whole concept of incorporation? Had Union Carbide officers been held personally liable for the Bhopal disaster, it is likely the next set of executives would have exercized more care. Instead we pass on to coporate officers all the benefits and rights, without any of the liabilities.
So in one sense I agree with you. If we were to eliminate restrictions on what corporations can do without introducing personal accountability, it could be as bad as you suggest. But IMO we are using one bad idea to try to solve the problems created by another one.
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Implicitly condoning stupidity since 2001.