Sublime

Andrew Redleaf and Richard Vigilante write in Panic: The Betrayal of Capitalism by Wall Street and Washington, “The ideology of modern finance replaced the capitalist’s appreciation for free markets as a context for human creativity with the worship of efficient markets as substitutes for that creativity. The result was a divorce of entrepreneurial

Loss aversion works hand in hand with the endowment effect. We don’t want to give up what we own partly because we overvalue it, and we overvalue it partly because we don’t want to give it up.

Each SKU would stand on its own two feet as a profit center. We would earn a gross profit on each SKU that was justified by the cost of handling that item. There would be no “loss leaders.”