What's the difference between capitalism, communism, and a mixed economy?
In capitalism, if a CEO like Roger Smith bets the company on a new technology and loses, losses are limited to the money invested by preexisting shareholders and creditors.
In communism, if a commissar bets the kolkhoz on a new type of whip and loses, every soviet citizen is on the hook for the losses until the next purge, when the commissar gets executed.
In a mixed economy, if a CEO like Roger Smith bets the company on a new technology and loses, every taxpayer is on the hook for the losses indefinitely.
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