Among the half-baked platitudes used to defend modern capitalism (usually including phrases like “free market,” “personal responsibility,” “innovation,” etc), we often hear the justification of capitalists’ “risk-taking.” Whenever someone says workers should receive more of a business’s profits, you can trust a capitalist or one of their lackeys to pop their head up and object. The strongest and most coherent version of the argument, or the “steelman,” goes something like this:

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