9 ms·
"""I do agree that large profit margins mean something is wrong, though I'm not sure the blame should necessarily fall on the person making the profit.""" Well
by dextorious 15y ago
"""I do agree that large profit margins mean something is wrong, though I'm not sure the blame should necessarily fall on the person making the profit."""
Well, if that person is you, though, then you have the morality question to answer, not the market. It doesn't matter, morality wise, if the profit happens because the market is inefficient or for some other reason.
An easy example would be, because you have a patent for the thing you sell, so no one else can get into the market while it holds.
That's essentially what big pharma does
(they justify it with the "we fund future research" line, which I call BS. If you can save more people now, do it, instead of invoking vague future benefits. Else, even when that future drugs are available, you'll just screw the people of the future needing them, with the exact same argument about more future research).
- _delirium 15y agoYeah, I agree there are situations where if it's you making the decisions, you should ask questions like that. I'm mostly interested in the structural causes, though, because I think encouraging people to have more ethics in business tends to be like whack-a-mole, if you don't also tackle the structural reasons that it's even possible for someone to extract persistent large profits from a situation.