India’s Jet Airways has been in trouble for months now. They’ve been losing money and banks won’t lend any more – sensibly enough, it’s a money pit. All of which is a useful lesson in why we need capital and capitalists. There’s got to be someone there able and willing to cover losses in the bad times – that’s what they get the profits for in the good.
This is the part of the system that some find so terribly hard to understand.…See More