2 ms·
> There's potential for a huge gain in efficiency here ... Of course the market is exited at the long term prospects of that. IMHO this supports the OPs point,
by adamsea 6y ago
> There's potential for a huge gain in efficiency here ... Of course the market is exited at the long term prospects of that.
IMHO this supports the OPs point, which is that the stock market in its current incarnation does not care about the lives of human beings.
Which is unacceptable. We collectively have enough creativity and intelligence figure out how to have a stock which can not only reflect corporate profit but also human well-being.
I think it begins by acknowledging market externalities - pollution being one of them - which allow for activities which are profitable within the shared fiction of the market, but which are, in our broader shared reality, ultimately destructive.
The Happinese/Well-being GDP also seems like an interesting idea.
- gorbachev 6y agoI don't think the stock market should care about lives of human beings directly. It's not meant to do that. I do agree that using the stock market as an indicator of quality of life, general well being of human beings or anything else than the financial viability of publicly traded companies is not a very good idea. That's a frequent mistake made by financial journalists and politicians alike, however, especially during election season.
- reverend_gonzo 6y agoFor what its worth, capitalism does not care about the lives of human beings.