Remarkl
Apr 18, 2024

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Intentional or not, a focus on production distracts from the essence of capitalism, which is private risk-taking. Workers take the first revenues from an enterprise, and financiers take the last revenues. That is why production decisions by financiers and their agents tend to serve the demands of the population. When government bails out a company, people cry "Moral Hazard!" without realizing that the relative absence of moral hazard is precisely what makes capitalism capitalism.

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Remarkl
Remarkl

Written by Remarkl

Self-description is not privileged.

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