As I've pointed out before bankruptcy is an essential part of any market based economic system. We've thus the insistence that a decent bankruptcy system is essential to the operation of a usefully functioning economy. One of the problems the Indian economy has had over the years is that the bankruptcy system isn't really functional. We might also call bankruptcy the most important part of a market economy, not just a capitalist one. At which point we've got to have a system of cleaning up the messes of those mistakes.

Source: Forbes May 06, 2017 02:48 UTC