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Unfortunately, most of these companies have share-holders, and thus the directors of the company have a legal fiduciary duty to the shareholders: https://en.wik

Unfortunately, most of these companies have share-holders, and thus the directors of the company have a legal fiduciary duty to the shareholders: https://en.wikipedia.org/wiki/Business_judgment_rule https://en.wikipedia.org/wiki/Business_judgment_rule If the directors intentionally forgo profit, they could be criminally liable, even if they do so with the intent of helping the community at the expense of the shareholders. Capitalism is designed, legally designed, to not be ethical, unless "maximizing profit" is your ethical code. Essentially, externalities, like destroying the environment and widening the wealth-gap, are capitalism working as designed. As such, we need specific laws to protect communities and people, though right now "laws" seem rather unpopular in quite a few countries.

Ccecil 2y ago
Yes...it is too late for the companies that exist already. No reason we cannot have a non profit counterargument to Realpage. Issue with new laws IMHO is "...the more rules and regulations...the more thieves and robbers..." and it seems to be in the past that more regulations just helps those causing the problem. The issue isn't that we need to remove the landlords...society needs to explain that they are not acting ethically. I would even be happy with just not giving handshakes and back pats to those who act in destructive ways. The average renter in my area makes ~$35k/year...but the average realtor makes $135k (according to glassdoor). At some point this just pushes out the "average".
hamandcheese 2y ago
The linked article seems to contradict what you are saying. > In effect, the business judgment rule creates a strong presumption in favor of the board of directors of a corporation, freeing its members from possible liability for decisions that result in harm to the corporation. It's not clear to me how conducting "ethical capitalism" could open you up to criminal liability.

Ccecil 2y ago

Yes...it is too late for the companies that exist already. No reason we cannot have a non profit counterargument to Realpage. Issue with new laws IMHO is "...the more rules and regulations...the more thieves and robbers..." and it seems to be in the past that more regulations just helps those causing the problem. The issue isn't that we need to remove the landlords...society needs to explain that they are not acting ethically. I would even be happy with just not giving handshakes and back pats to those who act in destructive ways. The average renter in my area makes ~$35k/year...but the average realtor makes $135k (according to glassdoor). At some point this just pushes out the "average".

hamandcheese 2y ago

The linked article seems to contradict what you are saying. > In effect, the business judgment rule creates a strong presumption in favor of the board of directors of a corporation, freeing its members from possible liability for decisions that result in harm to the corporation. It's not clear to me how conducting "ethical capitalism" could open you up to criminal liability.