Re: ECON: Socialism as a viable form of organization
22 Jan 1999 01:54:25 -0000

Tim Hruby <> 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-)