Origin
Mark J. Green coined the exact phrase in a 1974 article discussing the utility company, Con Ed.
The sentiment was earlier expressed in the adage "Socialism for the rich and capitalism for the poor", which was in use by the 1960s, and the notion of privatizing profits and socializing losses dates at least to 1834 and Andrew Jackson's closing of the Second Bank of the United States.
Read more about this topic: Lemon Socialism
Famous quotes containing the word origin:
“We have got rid of the fetish of the divine right of kings, and that slavery is of divine origin and authority. But the divine right of property has taken its place. The tendency plainly is towards ... “a government of the rich, by the rich, and for the rich.””
—Rutherford Birchard Hayes (1822–1893)
“There are certain books in the world which every searcher for truth must know: the Bible, the Critique of Pure Reason, the Origin of Species, and Karl Marx’s Capital.”
—W.E.B. (William Edward Burghardt)
“Each structure and institution here was so primitive that you could at once refer it to its source; but our buildings commonly suggest neither their origin nor their purpose.”
—Henry David Thoreau (1817–1862)