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The flippant-yet-accurate description I've heard of this is "socialized losses, privatized profits".
by Arubis 7y ago
The flippant-yet-accurate description I've heard of this is "socialized losses, privatized profits".
- hedora 7y agoI’ve heard, “public risk, private profits”. That ends up including things like utilities, but also most of the US automotive industry, banks, etc. (It also requires the listener to have an understanding of expected value, and other basic statistics.) “socialized losses, private profits” seems to include any government spending that benefits society, such as public ownership and funding of roads, but private shipping companies (and all the industries that rely on them) profiting from their existence.