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> but embezzlement and fraud at large scale can easily cause the company to die (problem solved) The legitimate societal good that those corporations produced
by jjk166 2mo ago
> but embezzlement and fraud at large scale can easily cause the company to die (problem solved)
The legitimate societal good that those corporations produced (useful products, valuable services, large scale employment, etc) are gone. The people responsible may lose their jobs, but if they get new jobs they are likely to just infect another corporation. Further, those responsible may have left long before the the institution buckled under the weight of their actions, and in the process convinced others to engage in the same practices. I reject the claim that the problem is solved by company death.
- xp84 2mo agoYou're not wrong there. The bad actors still suck and ruin good companies and people's lives. I guess what I should have said it's the downside is limited in private business, compared to a public agency where they not only can raise taxes to make up for the losses, in many cases they're basically compelled to. Like, you can't just close the police or fire department if they lost so much money that we can't afford to run them in the current budget, so they'll borrow - regardless of the interest cost - and saddle the grandchildren of the current taxpayers with the bill.