View Full Version : What is this economic word or concept that I cannot remember?

23 Jul 04,, 11:14
A company that exists only to serve itself but ends up offering services and products because it exists.

My economics teacher taught me the word many many years ago but I don't remember it. I do, however, remember that he used BR as the anology:

British Rail exists only to transport its workers to and from work. Because it makes financial sense, it also allows non-workers to use the service too.

23 Jul 04,, 15:42
That makes no sense? Why would a rail company exist only to transport its own workers? Why would the company even have workers if its only purpose is to transport them? That would be a "the emperor has no clothes" situation, like Siberian labour camps that only existed to build more Siberian labour camps.