Socialization of Risk is in its fundamental state insurance for something the private sector finds no profit in, or too risky for the private to touch.
Privating Profit is the practice of the corporation that is used government funds for private investment and walks away with an accumulated profit when the business goes bad. Private Sector walks ago accumulated profit and the state pick up debt form operations of the business, environment hazards turn state liability, or the practice of government buying worthless or failed asset, not at market value rather than book value (paragraph on this odiuos practice and very recent example dubious bailout by the current government. A short description, essentially failure of a business, let stress my these are maga projects will not be built with help government. Any move let to owners grabs profits or under-invest in Capex essentially a corporation will self liquate into in the process where all production are stripped of value through the process of Depreciation. When all asset stripped down then the owners walk away with a loot and state pick up all liability for the bond holder and social loss to the community. 2. A simple one that corporations do need to plan future environmental cost, the govern while paying the cost of failure. 3. I mention this briefly because I try to develop this into a full paragraph. The recent payout of the pipeline deal, lets a thought experiment would the government pay which I assume book value 4.5 with 7.3 billion being the final price since the value has not been through market value. Try to sell it on the open market and see if there a buyer beyond the government. In mind accounting style until it catches a bid as it falls there no value in project. Lets this paragraph up what was trans-mountain pipeline, Mr Finance Minister Bill Morneau hold to come up with final price for an incomplete pipeline. There in no product going into pile line so nothing come coming out the pipeline. So estinallty we have pipeline that not move no product. Honestly you should have put the market I could I get privates investors help me to buy the pileline for scrap value:) Opportunty missed form me. But how did you a price pipeline does nothing but rusts. That sir interesting questions.