Frank Borman: Bankruptcy is Like Hell

Posted by admin on Monday, June 27, 2016

Meaning of Frank Borman Money Quote: saying those who default on financial obligations are treated to potential hell of going bankrupt. Frank Borman said:
 
Capitalism without bankruptcy is like Christianity without hell Quote
 

Capitalism without bankruptcy is like Christianity without hell” — Frank Borman

 

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In this quote, Frank Borman is drawing a comparison between capitalism and Christianity, with bankruptcy representing the equivalent of hell. His point seems to be that just as the concept of hell serves as a deterrent against sin in Christianity, the possibility of bankruptcy serves a similar purpose in capitalism.

It encourages risk-taking and innovation, but also discipline, since failing companies and individuals can face bankruptcy as a consequence. Without the threat of bankruptcy, Borman suggests there would be less incentive in capitalism to use resources efficiently and make sound market judgments.

So he’s arguing that bankruptcy, like the concept of hell, is a necessary element for the proper functioning of the system, keeping participants accountable through the risk of potential failure and financial ruin.

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