And if your strategy fails, you (usually) can't raise taxes to make up for lost revenue. So there is an even more direct link between underperformance and losing money.
I don't get such incomplete, selective, comparisons.
The country can't go bankrupt and you just found another one.
Yes, when a country messes up they have to actually fix things, there is no way around it. Except getting merged into another country - like my birth country, the GDR, ended up as West Germany's problem (but its people still had to do the work).
Also, if big enough companies (and banks) fail, it is the same. Not having a string government would not help either, in such cases the companies would be the government, as we saw in even wilder times of huge companies and much less state in the US some century or two ago.
At some point in the hierarchy you have to live with not having omniscience and accept that sometimes things don't work out, and that you can't just walk away from the consequences of those failures.
Oh boy. Haven't watched much US news since, like, Reagan, have we? Dumping the debt of your failures on future generations has become somewhat of a competitive sport in politics. Can't really do that in the private sector.
If your strategy fails the government bails you out, or you float away from the burning wreckage on your golden parachute until you land in a new job at another company which you can then ruin without meaningful consequences or you just retire with the millions you got in your severance package and live the rest of your life carefree.
