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I’d like to point out that the idea that corporations “care about nothing except profit” is a fairly radical and new idea that would have been completely alien

I’d like to point out that the idea that corporations “care about nothing except profit” is a fairly radical and new idea that would have been completely alien to anyone from more than a few decades ago. It’s a testament to the success of the propaganda of the people who pushed this idea that, whether a good idea or not, the majority of people today consider it fundamental and will probably be surprised to learn how new it is.

SoylentOrange 7y ago
I’m genuinely interested, can you provide a source for this? My understanding of companies is they have always been exploitative. Any large company from the gilded age is a good example (now almost a century ago). Further back, the companies of the industrial revolution were legendary for their amorality. Another example I’m familiar with is coal companies in Scotland before WWI.
- pmontra 7y ago
  This is an interesting article on the subject https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits https://www.nytimes.com/roomfordebate/2015/04/16/what-are-co... (2015) This is another one https://www.hrexchangenetwork.com/hr-talent-management/columns/the-purpose-of-business-is-not-to-make-a-profi https://www.hrexchangenetwork.com/hr-talent-management/colum... from 2011. The points are * Serving shareholders’ “best interests” is not the same thing as either maximizing profits, or maximizing shareholder value * Profit, but not Profit Maximization
- wool_gather 7y ago
  The Shareholder Value Myth is a good recent-ish book laying out the case that maximizing profits no matter what is not in fact a requirement. There's been discussion of it occasionally on HN. For example: https://news.ycombinator.com/item?id=17529520 https://news.ycombinator.com/item?id=17529520
karlunio 7y ago
You say this idea is new and radical. Where would you say this idea comes from? In this case, what other things do companies generally "care" about?

SoylentOrange 7y ago

I’m genuinely interested, can you provide a source for this? My understanding of companies is they have always been exploitative. Any large company from the gilded age is a good example (now almost a century ago). Further back, the companies of the industrial revolution were legendary for their amorality. Another example I’m familiar with is coal companies in Scotland before WWI.

pmontra 7y ago
This is an interesting article on the subject https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits https://www.nytimes.com/roomfordebate/2015/04/16/what-are-co... (2015) This is another one https://www.hrexchangenetwork.com/hr-talent-management/columns/the-purpose-of-business-is-not-to-make-a-profi https://www.hrexchangenetwork.com/hr-talent-management/colum... from 2011. The points are * Serving shareholders’ “best interests” is not the same thing as either maximizing profits, or maximizing shareholder value * Profit, but not Profit Maximization
wool_gather 7y ago
The Shareholder Value Myth is a good recent-ish book laying out the case that maximizing profits no matter what is not in fact a requirement. There's been discussion of it occasionally on HN. For example: https://news.ycombinator.com/item?id=17529520 https://news.ycombinator.com/item?id=17529520

karlunio 7y ago

You say this idea is new and radical. Where would you say this idea comes from? In this case, what other things do companies generally "care" about?