Bailouts Vs Bankruptcies

The bailouts are tragic as it undermines the natural garbage collection in democracy – bankruptcy. Bankruptcy is an incredible positive because it allows for the safe and sane dismantling of bad organizations.

The question is – how do we apply a mechanism like bankruptcy to government organizations?

Corruption Is Inevitable

Corruption in systems built by humans happens everywhere. Systems that hold corruption to a minimum or are able to self heal from corruption are truly amazing. The only two systems I have seen that generally can heal from corruption are the free market, which heals through removing corruption by natural selection and bankruptcy, and democracy, which heals through periodic elections and purges.… read more “Corruption Is Inevitable”