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You're absolutely right about how that should work in theory. once externalities are internalized and the market is properly governed If a company chasing dow

by po 15y ago

You're absolutely right about how that should work in theory. once externalities are internalized and the market is properly governed If a company chasing down profits hurts the general public it is a failure of the market, not the company. However, for this to work in practice, there needs to be a strong firewall between the companies competing, the regulators defining the market and even the media informing the public about what is going on. We're watching a rigged game where the coaches have paid off the referees and the sports reporters have realized there's more money in becoming promoters.

philwelch 15y ago
So the market only partially works. Perfection is an unattainable goal. Fine. As you run a business, it should be pretty obvious to you whether you're profiting by exploiting flaws in the system. If you're not exploiting flaws in the system and you're still profiting, I don't think you need to worry a great deal about whether you're actually benefiting society. Most businesses do a small, dull, unexciting part of benefiting society, and that's fine.