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In term of things that are more profitable, companies tend to be very good at optimising for that, that’s the nature of a free market, economic darwinism throug
by cm2187 4y ago
In term of things that are more profitable, companies tend to be very good at optimising for that, that’s the nature of a free market, economic darwinism through competition. If your objective is equity, not economic performance, then it’s a different objective but that’s not the one quoted by the senator.
- HelloMcFly 4y agoCompanies exist within systems that are more than just "pure capitalism", and whose individual-level actors (who often hold decision-making authority) are motivated by more than just "maximizing company returns". The free market is not some independent force of physics, it's operating in a highly complex, multi-factorial society with individual actors and competing forces. For instance: I have seen people lobby for hires - yes, including two instances of appointing board members - based on personal associations vs. a sober-eyed review of qualifications (guess which gender typically benefits?). The idea that "if it was better the market will make it so" may be right in the fullness of time, but we live in what is effectively a zero-sum society when viewing the present. Patience for the long-tail of change advantages the already advantaged.