Editor’s Note: This is a commentary on Vox’s article titled, “Panera once operated 6 pay-what-you-can stores. Now the last one is closing.”
Op-Ed Note: This piece is missing an Op-Ed. If you would like to write one to be published on worldslastnight.com, please let us know in the comments.
Panera Cares’ system was actually working as socialism, just not as a social business. A social business is one that is self-sustainable like Grameen Bank or its derivatives. A social business takes on investment without promising an ROI.
Panera Care locations were running at a loss to Panera itself, which is actually a good reflection of how socialism tends to work – the wealthy (Panera) subsidized the loss.
Yet, the issue is, they figured out they can’t do that forever. Why? To quote Margret Thatcher, “They’ve got the usual Socialist disease – they’ve run out of other people’s money.”