#Economy

Privatizing the profits, socializing the losses

The added complexity of markets requires not only specialized skills but also fine-tuned morals from the people involved. When the profits are privatized and the losses are socialized, you should know something is wrong.

Yanis Varoufakis, Global Financial Markets Forum, March 2016

The system we live in attributes a monetary value to the goods and services we produce. We are rewarded, being paid, for the goods we manufacture, the services we provide to other people. The value attributed to those goods and services is relative to and regulated to a certain extent by the supply and demand of those goods and services.