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> Imagine thinking profit-seeking is just a Western thing. Lol. Seems pretty clear to me that the comment you're replying to is talking about short-term profit
by zopa 5y ago
> Imagine thinking profit-seeking is just a Western thing. Lol.
Seems pretty clear to me that the comment you're replying to is talking about short-term profit maximization, and not "profit seeking" in general.
The argument is that excessive short-term profit maximization hurts you in the long run by driving your customers to look for alternatives. Which you'll notice only makes sense as an argument if you do care about profits.
And I agree that it's debatable whether this is specifically a Western failing or not, but it's sure become a common approach over at least the last few decades in the US of A.
- ajmurmann 5y agoIsn't this a natural end state of a quasi-monopolist traded in the stock market? At some point the market share cannot go up by much anymore but your share holders want to see growth. So the only way to show the needed growth is by increasing margins. Increasing prices seems fairly safe for TSMC though as long as they keep their technological edge and are ready to lower prices again once a viable competitor emerges.