Without rule of law, a free press and democracy their are no checks to ensure the honesty of a bureaucracy or government. 2008 crisis Cause 1) deregulation of banking sector enacted by Bill Clinton 2) government backed lending to poor credit risks - NINJAS.
3. Say you get one big sale from a single customer, say £500k. Great? But that customer wants to pay 90 days after receiving the goods. Well that means the company has to carry the £400k debt with our suppliers for three months! The company then borrows the £400k.
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Why should the company borrow the £400k? Such a transaction should only occur if the workers *agree* to it. The debt would consequently be owed by the customer to those workers. If the workers don’t want to give credit, they’ll deny the customer, just like the Board would have.
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The company needs to pay its suppliers, who won't wait three months to be paid. I need the steel before I can build the car. Would the workers turn the business away? What if that sale would guarantee work for them for a year?
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