samedi 24 janvier 2009

On risk

One hears much about capitalists and their risk taking. It is the risk they take for which they are rewarded with bonuses and profit. That is the cover story anyway. In reality, it is those at the bottom of the existential Ponzi scheme that take the risk up the pipe whilst the toffs trouser the golden eggs. It is now, amidst this financial fiasco, that investment would be risky, but the banks do not invest because the risk is, er, too high. And what kind of risks are involved anyway? For the little people, health, self-respect and finacil stability. A worker toiling away in a factory breathing hostile fumes and deafened by machinery to the cleaner depressed by the sheer monotony of work into smoking and drinking to the burned out office worker who just can't see the point anymore - these are the risk takers. All the risk is on their side. What does the capitalist risk - somebody else's money. Or getting bailed-out when everything goes wrong. Some risk.