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Sure, but he’s saying it wasn’t market forces that motivated them but their sense of civic duty. That is something that “the market” often lacks in their relen
by Swenrekcah 7y ago
Sure, but he’s saying it wasn’t market forces that motivated them but their sense of civic duty.
That is something that “the market” often lacks in their relentless pursuit of shareholder value.
- malandrew 7y agoOn what fact is he basing it on civic duty? There's literally nothing to support that. They started work on the tests before the disease even arrived in South Korea. It was the CEO reacting to perceived likelihood of future demand for such kits.
- Mirioron 7y agoThe market might often lack it, but isn't that simply an untapped resource? After the crisis is done the company can go on claiming how much they did to help far and wide. It's hard to find a better advertisement, especially since it's the company itself that's helping and not just some endorsement from elsewhere.
- refurb 7y agoAre you saying the CEO didn't consider, at all, the business implications of focusing on producing the tests?
- tathougies 7y ago> That is something that “the market” often lacks in their relentless pursuit of shareholder value. This is nuts. The market doesn't pursue shareholder value. Corporations do. However, the market, which consists of consumers and small producers as much as corporations, certainly does not always, as is seen in consumers (and frankly corporations as well) oftentimes irrational behavior.
- Swenrekcah 7y agoI concur that my statement is not entirely accurate, but if we apply the same nuance to the general sentiment I was replying to, surely we will conclude that we should absolutely not rely upon “the market” to prepare for and carry out disaster response.