A confusion is introduced in the quoted passage by the shift from the personal to the general. You personally cannot lose more than all your assets, because of bankruptcy. But bankruptcy just shifts any further losses to your creditors, so once we shift to thinking about global benefits and harms, the loss is no longer capped in that way.
A confusion is introduced in the quoted passage by the shift from the personal to the general. You personally cannot lose more than all your assets, because of bankruptcy. But bankruptcy just shifts any further losses to your creditors, so once we shift to thinking about global benefits and harms, the loss is no longer capped in that way.