> Democratic governments are "liable" in the sense that they can loose their jobs for screwing up.
Can, but don't. At best, a random staffer loses her job.
Moreover, you wouldn't say that McDonald's is "liable" for serving a hamburger that I don't like because I can refuse to buy their hamburgers and that's a greater consequence, so why would you say that govts are liable because they're subject to even less consequence?
Governments aren't liable. That's a problem. They're both socialized and systemic risk. That's a bigger problem. And, they're usually much larger than any "too big to fail" private company.
Can, but don't. At best, a random staffer loses her job.
Moreover, you wouldn't say that McDonald's is "liable" for serving a hamburger that I don't like because I can refuse to buy their hamburgers and that's a greater consequence, so why would you say that govts are liable because they're subject to even less consequence?
Governments aren't liable. That's a problem. They're both socialized and systemic risk. That's a bigger problem. And, they're usually much larger than any "too big to fail" private company.