The Post Office makes clear that modern capitalism is all about reward without responsibility

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For obvious reasons, I had a quick look at the accounts for the Post Office this morning. This is the latest balance sheet:

Let me summarise its situation in a word: it's bust. Much of that is due to provisions for the subpostmaster's dispute.

Then let me make one further observation, which refers to this note in the directors' report:

So, everyone is on the hook for what happens at the Post Office except the directors.

That is what modern capitalism is all about: reward without responsibility.


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