Those costs get paid by increased premiums for the people who do buy insurance, or they get paid for through socialized costs and claim our tax revenues and come at the expense of other things that people might want to do, like building roads and bridges.
"In the United States, employers have been able to socialize costs of doing business by diverting them to the government and thus to other taxpayers," says Susan Ursel, a Toronto-based attorney, and a senior partner at Ursel Phillips Fellows Hopkinson LLP.
One of these obvious concepts-there's a Wikipedia page dedicated to privatizing benefits, socializing costs.
However, we should explicitly recognize that these businesses, individuals, institutions, nations, etc. are privatizing profits (to themselves) while socializing costs (pollution costs -- health, climate, etc...) to all.
Insurance, as conceived by the pre-capitalist philosopher, Benjamin Franklin, is an efficient and business-like way to "socialize" costs, so everyone pays a small predictable amount.
Trump is bringing the same logic to the table, socializing costs associated with pollution--and not counting them--while privatizing profits from the pipelines.
In addition, healthcare in Israel is socialized and cost-effectiveness is stressed.
So on a planetary scale, we are privatizing benefits, and we are socializing the cost.
They are not only deciding, the current plan allows them to privatize the benefits of the bailout, and socialize the cost.
They claim that responsibly cleaning up their own poisonous mess -- instead of "socializing" the cost of dealing with it by spewing it into the air or dumping it in our oceans and streams -- will force them to raise energy rates.
