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Prioritizing wealth creation is probably beneficial to most people. As Adam Smith observed: "It deserves to be remarked, perhaps, that it is in the progressive
by cherrycherry98 3y ago
Prioritizing wealth creation is probably beneficial to most people. As Adam Smith observed:
"It deserves to be remarked, perhaps, that it is in the progressive state, while the society is advancing to the further acquisition, rather than when it has acquired its full complement of riches, that the condition of the labouring poor, of the great body of the people, seems to be the happiest and the most comfortable. It is hard in the stationary, and miserable in the declining state. The progressive state is, in reality, the cheerful and the hearty state to all the different orders of the society; the stationary is dull; the declining melancholy."
Not that it should come at the expense of exploitation, and Smith would likely agree. He was critical of rent seekers and slavery and was very much interested in the well being of common people.
His observation, I believe, it also applicable at a smaller scale when looking at companies. Growing companies are great to work for with lots of excitement, perks, and new opportunities, even for average or mediocre employees. Stagnant companies are difficult and melancholy, not much advancement, raises are small or non existent. Declining ones are miserable as everyone is fighting for survival.