Over the past year I’ve become aware of mechanisms where we effectively transfer money from the poorest to the richest by reducing the risks associated with investment. Limited liability and bankruptcy laws put a limit on losses. But there is no corresponding limit on gains. When stocks head south we put together a ridiculously gigantic stimulus plan to try to turn things around. It won’t be enough to save anybody’s mortgage—but it should be enough to keep the corporations going. At the same time, we’re very hesitant to do something about outsourcing or minimum wage because, hey, it’s the market.
— squashed: Wealth shifting