[FoRK] Capitalism's Fatal Flaw

Dave Long dave.long at bluewin.ch
Mon Nov 9 09:07:48 PST 2009

> I would tend to include [avoidance of failure] as part of success,  
> not as
> something separate.

Except that capitalism discourages avoidance of failure: anyone can  
avoid failure, and many owner-operated companies do, but usually at  
the expense of growth.

When playing with OPM, the OP can, and do, diversify their  
investments; from their point, of view, any avoidance of  
diversifiable risk by their managers (recall that in this world, a  
founder is an agent) is inefficient.


In switzerland, we are currently wringing our hands because  
unemployment has reached 4%; as far as I can tell it has almost never  
been above 5%.
cf http://www.nytimes.com/interactive/2009/11/06/business/economy/ 
unemployment-lines.html and http://www.amstat.ch/amstat/pressetexte/ 

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