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This is such a dumb quote, because obviously they are creating a lot of value for customers as well. It's easy to blame "rich shareholders" and ignore our own
by nightski 5y ago
This is such a dumb quote, because obviously they are creating a lot of value for customers as well. It's easy to blame "rich shareholders" and ignore our own impact via consumerism. Especially when many Americans themselves are shareholders through retirement plans.
- avidiax 5y ago"Shareholder value" seems to be concentrated in industries that serve wants rather that needs. Basic clothing, food & shelter might have large cash flows, but they don't have the profit potential needed to have "shareholder value" compared with consumerist industries. To put it another way, we could satisfy most human needs with little associated "shareholder value" by meeting those needs efficiently.
- deleted 5y ago[deleted]
- Seattle3503 5y agoMcDonald's and H&M are companies serving shareholders in the food and clothing industries.
- amrcnimgrnt 5y ago"obviously they are creating a lot of value for customers as well" Or not. It's been well over a decade (more or less since I've been economically independent) that I've been trying to avoid cheap, made in a death camp consumer goods, but they generally don't exist. What little does exist is geared towards the super wealthy. I don't want a cheap fridge with WiFi. I want a good one I don't want fast fashion. I want timeless I don't want a new cellphone every other year. My SE works fine There's no escaping it though. Not only have the blue collar middle class jobs disappeared. The middle class quality goods have gone too - there is no Kenmore no more.