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Yes, it's called investment capitalism - as long as the consequences of actions one demanded are never felt by oneself, due to limited liability of the financie
by photochemsyn 2y ago
Yes, it's called investment capitalism - as long as the consequences of actions one demanded are never felt by oneself, due to limited liability of the financiers and shareholders, then such behavior will never change.
The solutions are well known - the corporate death penalty is a good one, which dissolves the legal and financial structures of the company (the real assets such as factories are unharmed by this, and may simply be sold to a new more reliable set of financiers and shareholders, or may be nationalized and managed by the state, or may be handed over to the workers who run the place to see if they can form an employee-owned company or not, etc.).
This isn't such a radical viewpoint, even many venture capitalists agree that this is the right way to go, e.g. on the airlines:
https://www.cnbc.com/video/2020/04/13/government-should-let-airlines-fail-venture-capitalist-chamath-palihapitiya.html https://www.cnbc.com/video/2020/04/13/government-should-let-...