Chales S Colgan is Associate Director, Maine Center for Business and Economic Research , Economic Development Administration , University Center, Chair, CPD Program and Professor of Public Policy & Management, Muskie School of Public Service In an email exchange Mr Colgan had this to say: "Incidentally, the constitutional provision you mention was enacted in the wake of the railroad failures in the 1830s and was intended to prohibit the state from creating for profit corporations. The state has chartered a large number of non-profit corporations and there is no problem with those. I worked on the creation of MDF in the 1970s so I am pretty sure of this." MDF is The Maine Development Foundation. The "constitutional provision" I mentioned is Article IV Part Third section 14 of the Maine State Constitution: Section 14. Corporations, formed under general laws. Corporations shall be formed under general laws, and shal...
Examining the Fundamental transformation of the American political system that originated in the political philosophy preserved by Publius in The Federalist Papers. This blog was originally published as Main Street Economy and focused on legislation passed in the state of Maine "inspired" by similar laws passed by other states which collectively constitutes a fundamental transformation of the American political philosophy within state incubators.