From: phoenix@ugcs.caltech.edu
Date: Thu Jan 21 1999 - 18:54:25 MST
Tim Hruby <hruby@his.com> wrote, in a post I liked:
> risk-tolerance. Many people are risk-adverse and will quite willingly join
> a command economy in order to reduce the risk of catastrophic failure.
> Joining a Coasian "firm" can be seen in many ways as the same decision as
> buying insurance. As has been pointed out in a parallel thread,
Indeed. Galbraith notes the risk-avoiding nature of the corporation. Limited
liability, large size, ability to diversify, ability to replace its
components... if businesses appeal for gov't protection less than individuals,
that's one reason why.
-xx- Damien Raphael Sullivan X-)
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