The government seems to equate business with some kind of moral high ground, as though it's not as flawed and human as everything else.
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@JuliaHB1@mrchrisaddison what mechanisms are they? Can you explain how they work to prevent fraud and exploitation?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@JuliaHB1@mrchrisaddison yes Enron proved that, as did RBS, Arthur Anderson, network rail via Hatfield rail crash, more if you want?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@JuliaHB1@mrchrisaddison Lehman's self-correction was not particularly effective. Nor Bear Stearns, RBS etc -
@JuliaHB1@mrchrisaddison and I know Lehman well. Largely very well run with many very clever people. Two small areas destroyed it -
@JuliaHB1@mrchrisaddison so no, business does not 'self correct'
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@JuliaHB1@mrchrisaddison The state's self correcting mechanism is ultimately the ballot box. Remind me what self correcting did banks have?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@JuliaHB1@mrchrisaddison Please explain what part of the state rescue of the banks in 2008 was business' "self correcting mechanism".Thanks. Twitter will use this to make your timeline better. UndoUndo
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@JuliaHB1@mrchrisaddison Business's self correcting mechanism is that they go bust if awful - difficult if applied to schools/hospitalsThanks. Twitter will use this to make your timeline better. UndoUndo
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@JuliaHB1@mrchrisaddison utter bollocksThanks. Twitter will use this to make your timeline better. UndoUndo
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@JuliaHB1@mrchrisaddison Pardon? The banks? 2008?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@JuliaHB1@mrchrisaddison yes the self correction is called the Taxpayer.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@JuliaHB1@mrchrisaddison oh for goodness sake, only in an ideal market; education is not such a matket. And states have OTHER mechanismsThanks. Twitter will use this to make your timeline better. UndoUndo
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