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I mean, you say "companies" but really you mean "people" because people run companies. You can't, or shouldn't, abstract away the people ultimately making deci

by sbarre 3y ago

I mean, you say "companies" but really you mean "people" because people run companies. You can't, or shouldn't, abstract away the people ultimately making decisions if you're trying to reason about this stuff. And people can make decisions, even the ones who run companies, to balance profits with contributing to a greater good. But they choose not to. So the people who are running these companies are choosing to prioritize profits at all costs. Some of this is because the people who operate the financial markets tell them they will be punished if they don't, but obviously there's also some agency on the part of the company leadership as well.

ryandrake 3y ago
We need a renaissance where voters wake up and remember that companies exist at the behest of the people. A business has no god-given or natural right to exist. They apply to their state with incorporation documents, and the state (in other words, the people) decides whether or not they should exist by granting them a business charter / license. Companies are allowed to exist because they provide some common good, in exchange for us allowing them to profit and have limited liability. I think companies have forgotten this bargain, and feel they simply have the right to exist and that their only duty is to provide profit to shareholders. The people should hold companies to a high standard, and demand that they also serve the public good in addition to serving their shareholders. And we should revoke companies' existence when they fail to uphold their side of the bargain. When was the last time that happened to a major company--that their business charter was revoked by the government for wrongdoing? We've gotten so used to simping for companies and not holding them accountable that they now strongly believe their only obligation is to their shareholders and financial markets.

by sbarre 3y ago

ryandrake 3y ago

We need a renaissance where voters wake up and remember that companies exist at the behest of the people. A business has no god-given or natural right to exist. They apply to their state with incorporation documents, and the state (in other words, the people) decides whether or not they should exist by granting them a business charter / license. Companies are allowed to exist because they provide some common good, in exchange for us allowing them to profit and have limited liability. I think companies have forgotten this bargain, and feel they simply have the right to exist and that their only duty is to provide profit to shareholders. The people should hold companies to a high standard, and demand that they also serve the public good in addition to serving their shareholders. And we should revoke companies' existence when they fail to uphold their side of the bargain. When was the last time that happened to a major company--that their business charter was revoked by the government for wrongdoing? We've gotten so used to simping for companies and not holding them accountable that they now strongly believe their only obligation is to their shareholders and financial markets.