Ours is a system of corporate socialism, where companies capitalize their profits and socialize their losses...in effect, they tax you for their accidents, bungling, boondoggles, and mismanagement, just like a government. We should be able to dis-elect them.
About this quote
- What does it mean?
- Companies keep profits but make society pay for their failures.
- In plain terms
- Companies keep profits but make society pay for their mistakes.
- What can you take from it?
- Companies socialize losses while keeping profits.
Where it applies
Putting it to work
Questions to consider
- Who should pay for corporate mistakes?
Another view
Social safety nets are needed for market failures.
More from Ralph Nader
Like sex in Victorian England, the reality of Big Business today is our big dirty secret.
Permalink to quote #37 This administration is not sympathetic to corporations, it is indentured to corporations.
Permalink to quote #39 The only difference between the Republican and Democratic parties is the velocities with which their knees hit the floor when corporations knock on their door.…
Permalink to quote #36
Related quotes
We must take from the right nationalism without capitalism and from the left socialism without internationalism.
Gregor StrasserGregor Strasser quote #1 On the level of political principle, the imposition of taxes and the expenditure of tax proceeds are governmental functions. We have established elaborate cons…
Milton FriedmanMilton Friedman quote #2 Polly: Education with socialists, it's like sex, all right as long as you don't have to pay for it.
Alan BennettAlan Bennett quote #2