A Quote by Nouriel Roubini

We're essentially continuing a system where profits are privatized and...losses socialized.

Nouriel Roubini

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Continuing Essentially Losses Profits System

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Nouriel Roubini
American - Economist
Born: March 29, 1958

As in the past, the costs and risks of the coming phases of the industrial economy were to be socialized, with eventual profits privatized.

Noam Chomsky

The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline.

Milton Friedman

Socialized medicine allows a nation to exclude a U.S. product from its market if the U.S. firm does not make generous enough price concessions. Accordingly, what has developed is a system within which U.S. firms make large profits on new drugs in the U.S. market, but very low profits on sales everywhere else.

Kevin Hassett

A basic principle of modern state capitalism is that costs and risks are socialized to the extent possible, while profit is privatized.

Noam Chomsky

In many ways, large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotionally attached to large profits. I've certainly made some of my worst trades after long periods of winning. When you're on a big winning streak, there's a temptation to think that you're doing something special, which will allow you to continue to propel yourself upward. You start to think that you can afford to make shoddy decisions. You can imagine what happens next. As a general rule, losses make you strong and profits make you weak.

William Eckhardt

Ours is a system of corporate socialism, where companies capitalize their profits and socialize their losses…in effect, they tax you for their accidents, bungling, boondoggles, and mismanagement, just like a government. We should be able to deselect them.

Ralph Nader

One of the most insidious consequences of the present burden of personal income tax is that it strips many middle class families of financial reserves & seems to lend support to campaigns for socialized medicine, socialized housing, socialized food, socialized every thing. The personal income tax has made the individual vastly more dependent on the State & more avid for state hand-outs. It has shifted the balance in America from an individual-centered to a State-centered economic & social system.

William Henry Chamberlin

Large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotionally attached to large profits. I've certainly made some of my worst investments after long periods of winning.

William Eckhardt

The U.S. has the most dysfunctional healthcare system in the industrial world, has about twice the per capita costs, and some of the worst outcomes. It's also the only privatized system.

Noam Chomsky

If you want to look at a purely socialized health care, you would have to go to the United States, where we have it. In particular, that's the system we reserve for our veterans. So if I hear politicians run down socialized medicine - and I have done that before the Congress - I say: Do you hate your veterans? Why do you reserve purely socialized medicine - there's only the U.S. and Cuba that have that - for the veterans? So getting the terms right would be very, very helpful in our national conversation on health reform.

Uwe Reinhardt

In a crisis, stocks of financial companies are great investments, because the tide is bound to turn. Massive losses on bad loans and soured investments are irrelevant to value; improving trends and future prospects are what matter, regardless of whether profits will have to be used to cover loan losses and equity shortfalls for years to come.

Seth Klarman

Socialized medicine, some still cry, but it's long been socialized, with those covered paying for those who are underinsured. American medicine is simply socialized badly, penny wise and pound foolish.