4 ms·
The problem is more obvious in reverse: profit is money extracted from community wealth. It may be reinvested to create more community wealth. But until that h
by TheOtherHobbes 3y ago
The problem is more obvious in reverse: profit is money extracted from community wealth.
It may be reinvested to create more community wealth. But until that happens it's effectively removed from the collective resource pool and monopolised by private owners for private ends.
This is not great when it's abstract numbers, but it inevitably seems to concretise as privileged individual control over property, land, exclusive status symbols such as yachts and private jets, control of media outlets, and ownership of corporations - all of which are potent destroyers of community health and community wealth.
The tail is wagging the dog. Community wealth is treated as the left-overs after privileged individuals have taken their share. It should be the other way around.
- johngladtj 3y ago>The problem is more obvious in reverse: profit is money extracted from community wealth. On the contrary, profit is the part of the wealth generated by the company that remains with those who generated it!
- antisthenes 3y ago> On the contrary, profit is the part of the wealth generated by the company that remains with those who generated it! Only if 100% of the profit is distributed to the workers of the company. Also, this is not relevant for a non-profit (which may also have profits).
- johngladtj 3y agoWhy do you think workers should be entitled to more than they agreed contractually? Should they also be liable for the losses incurred?
- antisthenes 3y agoYour original statement was lacking important qualifiers. If you provide additional info, I'll be able to answer your questions.
- johngladtj 3y agoWhat qualifiers?
- robocat 3y agoYeah: the old companies take everything argument (quite true for many organisations and departments). Where's the other side of the ledger: the services and products that the company provided to the community. Hospitals are a great example. Put money in, get some health out. How do we value getting our bladder fixed? It is easy to look at the money and forget what we get in return. What value do we get from an iPhone? If no more smartphones were produced I wonder where the market price would shift to? We could even find out if China has a war.