Capitalism: Profit AND Loss

Posted: October 3, 2012 in Economics
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“Capitalism is a system whereby profits and losses are private.  Serving customers well leads to profits; failing to do so leads to losses or bankruptcy.  Socializing the losses while keeping profits private encourages reckless risk taking and sloppy business management and causes “private” businesses to operate more like government bureaucracies.” –Thomas DiLorenzo

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