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When did "profit" equate to "endless unrestrained amoral growth ethic turning human society into the control theory equivalent of a cancer cell" in the first pl
by chii 4y ago
When did "profit" equate to "endless unrestrained amoral growth ethic turning human society into the control theory equivalent of a cancer cell" in the first place?
- bsenftner 4y agoWhen finance abstracted Capital to the point that Wall Street became an end onto itself, and every justification for amoral financial behavior was levied as fiduciary responsibility, that is when US Business became the equivalent of an out of control Cancer. The US American form of capitalism is an exploitative Ponzi scheme, which is ironic considering the Christianity that is supposed to be afloat. In a more mature and moral society Capitalism would not be the Jack Booted Thug we have manifested. Plain fact: the human race is not as mature as it thinks it is.
- astrange 4y agoNobody cares about "fiduciary responsibility" in this case. CEOs are not required to maximize profit for their shareholders. If they'll go right ahead and say that in public, you can safely say the lawyers aren't warning them about it. https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans https://www.businessroundtable.org/business-roundtable-redef...
- marginalia_nu 4y agoIf a nice looking quarterly report is set as the single overriding goal above all other goals, it will by definition override all other goals, time horizons and externalities.
- luckylion 4y agoWhich it practically never is, right? How many companies have you seen selling off 100% of their assets to maximize this quarter's results?
- aredox 4y agohttps://www.lesswrong.com/tag/paperclip-maximizer#:~:text=The%20paperclip%20maximizer%20is%20the,could%20pose%20an%20existential%20threat https://www.lesswrong.com/tag/paperclip-maximizer#:~:text=Th....