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Corporations pay employees and generate profits for owners. The third party is the customers. The first comment (currently) uses the word "profitable", in other

Corporations pay employees and generate profits for owners. The third party is the customers. The first comment (currently) uses the word "profitable", in other words it asks what happens when a corporation is NOT profitable. We live in a time when profit is shrinking or drying up. So what happens? Corporations are controlled by owners, so they do two things: - they lower wages (inflation) - they raise prices This happens even when the owners have made stupid decisions. This happens even when the owners have committed criminal acts (Boeing, Sacklers, and many more). And the owners are also protected from legal consequences. The corporate model is obsolete. Simplistic answers like letting employees also be small owners will not fix this. We need a new model that provides the benefits of Corporations while ending the excesses, irresponsibility and criminality of owners. In the USA our constitution does not allow any action that denies equal protection under the law. Corporations have decide they enjoy the rights of citizens to buy elections. Owners, having made this decision may not enjoy any protection under the law that are not provided to ordinary citizens. No protection of their assets from bankruptcy and no protection from criminal prosecution. If you as an individual decide to sell OxyContin to any and everyone you would go to jail and you would be bankrupt. But not owners. [edit: typo "if owners ..." => "if you as individual ..."

arminiusreturns 2y ago
I often hear people say "if corporations are people how do we execute them?" I remind them that this current insanity of profit at all costs has not always been the norm. Of course to a certain degree it has, but a long time ago, in America at least, corporations had to prove they were providing a public good or service, and if they were found to not be, their charter could be revoked! That right there is the death penalty for a corporation. While I'm sure it would have its own set of issues, I often dream about a world in which that becomes the norm instead of destroying the world so a multimillionare can get a few extra mil and the billionares get a few extra bil, while they oppress us and compromise our governments.

arminiusreturns 2y ago

I often hear people say "if corporations are people how do we execute them?" I remind them that this current insanity of profit at all costs has not always been the norm. Of course to a certain degree it has, but a long time ago, in America at least, corporations had to prove they were providing a public good or service, and if they were found to not be, their charter could be revoked! That right there is the death penalty for a corporation. While I'm sure it would have its own set of issues, I often dream about a world in which that becomes the norm instead of destroying the world so a multimillionare can get a few extra mil and the billionares get a few extra bil, while they oppress us and compromise our governments.