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There is no comforting answer. Welcome to unchecked capitalism, it's short-term-profit-driven thinking all the way down. In every industry it's the same. The gu
by diputsmonro 3y ago
There is no comforting answer. Welcome to unchecked capitalism, it's short-term-profit-driven thinking all the way down. In every industry it's the same. The guard rails have been systematically dismantled for decades by opportunists just like this, hoping to make some quick cash and jump ship before it falls down.
Whenever anyone points this out, they get labeled as cynics who hate capitalism and industry, and their complaints are swept under the rug -- after all, the company hasn't collapsed yet, so the worries must be unfounded!
This is exactly why strong government regulations and oversight is necessary. Strictly profit driven companies don't care about externalities like pollution or human lives. Literally, they only care about making one number go up, everything else (including the long term value of the number) means nothing at all.
- invig 3y agoWe have the largest governments in human history. You might as well say "we just need stronger companies" for all the good it does to say better governments would help and remove the indirection.
- baggy_trough 3y agoCommercial aerospace and military contracting is your example of "unchecked capitalism"? Boeing is practically a federal agency!
- closeparen 3y agoIf you think Boeing management was insufficiently respectful of or deferential to technical people and their expertise, I’ve got bad news for you about voters. Engineers can sometimes be indispensable enough to finagle power from alliances with capital. We don’t win popularity contests.
- WalterBright 3y ago> Welcome to unchecked capitalism, it's short-term-profit-driven thinking all the way down Then why do companies' value go up long term? I own many stocks that have increased 10-fold in value over the last 10 years.
- jhummel 3y agoDid you read the article?!
- WalterBright 3y agoYes.