2 ms·
This isn't new. Here's John Kenneth Galbraith, writing about it in January 1987: > There is insurance of bank deposits and the further certainty that any large
by cs702 6y ago
This isn't new. Here's John Kenneth Galbraith, writing about it in January 1987:
> There is insurance of bank deposits and the further certainty that any large corporation, if in danger, would be bailed out. Modern socialism, as I've elsewhere said, is when the corporate jets come down on National and Dulles airports.[a]
Who loses? Startups, small businesses, and the non-wealthy -- that is, the masses who cannot count on government largess to rescue them.
[a] https://www.theatlantic.com/magazine/archive/1987/01/the-1929-parallel/304903/ https://www.theatlantic.com/magazine/archive/1987/01/the-192...