In the recent history, the closest to capitalists actually taking the risk I can think of is family business owners in 90s Poland. While there were new export markets opening up and domesting demand growing as well, for some reason (I presume lending market was barely there) there were multiple stories of entrepreneurs quite literally betting the farm, mortgaging their houses etc. Some succeeded, some not quite.
In Poland at least, the default investment of capital for such people (and doctors, and lawyers etc.) is real estate. No matter what, they will get a soft landing with rent income.
Back then the real estate market was non-existent. Consumer mortgages weren't a thing up until early 2000s.
Then again, I was talking about companies that have had some potential for scaling, like processed food, manufacturing etc. - not businesses that are inherently local.
>Capitalism is frequently misrepresented as a “natural” system, civilization’s base state, absent government involvement.
The younger you are when you learn or realize this, the healthier will your spirit be.
Skin in the Game by Nassim Taleb becomes highly relevant here
In the recent history, the closest to capitalists actually taking the risk I can think of is family business owners in 90s Poland. While there were new export markets opening up and domesting demand growing as well, for some reason (I presume lending market was barely there) there were multiple stories of entrepreneurs quite literally betting the farm, mortgaging their houses etc. Some succeeded, some not quite.
How is now different? Most small business owners do that
In Poland at least, the default investment of capital for such people (and doctors, and lawyers etc.) is real estate. No matter what, they will get a soft landing with rent income.
Back then the real estate market was non-existent. Consumer mortgages weren't a thing up until early 2000s.
Then again, I was talking about companies that have had some potential for scaling, like processed food, manufacturing etc. - not businesses that are inherently local.
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So the Soviets stole space satellites and rockets from... aliens?
This doesn't make any sense. Value is just labor time. Are you suggesting socialists don't do any labor?
Duke Nukem Forever must have been very valuable when it came out then.
The free rider problem. Also, criminals and capitalist don't just disappear in socialism. They just capture the government.
It is ludicrous to think that a criminal could capture and loot the government of a capitalist country. Like the USA