Shouldn’t that imply that if your project can have such accidents then it shouldn’t be built?
Why are we allowing some entity to profit from the upside and lumber us all with the downside costs?
Why are we allowing some entity to profit from the upside and lumber us all with the downside costs?
Corporation, n. An ingenious device for obtaining individual profit without individual responsibility.
Thw method to remove limit unlimited liability is at the core of our economical system.
We are allowing it, because it works remarkably well and makes us richer.
For those who do not recognize it, that’s a quote from The Devil’s Dictionary, written by Ambrose Bierce between 1881 and 1906, published in full in 1911. And yes, that is the full definition given for the word “Corporation”:
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Full text of the book is freely available here:
That’s why the state acts as an insurer instead. There’s an argument to be made that the profits should also be socialised, of course.