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> Transitioning a culture from private ownership to public is highly value destroying You know what else is value-destroying? Giving money to failed companies
by orthecreedence 7y ago
> Transitioning a culture from private ownership to public is highly value destroying
You know what else is value-destroying? Giving money to failed companies for free. Everyone's a capitalist until something bad happens, then they go running to Free Money Center to pick up their welfare check.
> And putting electeds in charge of companies goes about as one would expect in terms of venality and competence.
Yes, failing companies are a paragon of competence.
- JumpCrisscross 7y ago> You know what else is value-destroying? Giving money to failed companies for free. We agree on this. I think companies should be allowed to fail. If we can’t afford that, their shareholders (and managements’ parachutes) should be wiped out, and the public should get economic upside. Bailouts should be a painful last resort. But the public should not get control. Particularly not open-ended control by a board of politicians.
- golergka 7y ago> Giving money to failed companies for free. That's not what bailouts are.