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> measure the worth of investment and expenditures of capital by their holistic benefit to society. This seems specious, I mean, when? And how? The article se
by listenallyall 1y ago
> measure the worth of investment and expenditures of capital by their holistic benefit to society.
This seems specious, I mean, when? And how?
The article seems to contradict you, given that it is mostly focused on tech companies that do in fact spend billions in product development and tend to delay huge profits. Amazon, famously, was universally praised for its various innovations in e-commerce (i.e. benefit to society) while not making a profit for what, 25 years? The current business press gushes over "big data", the metaverse, AI, whatever, despite many such projects actually losing billions of dollars before being shut down or vastly reduced.
I'm not claiming these companies do actually benefit society, but Wall Street and the press is often willing to overlook immediate profit for the promise of long-term dominance (and the rewards that come with that) and in the meantime, they will at least promote the possibility of future societal benefit to justify their position.