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Moral sentiment evolved, more or less, on the plains of the Serengeti in groups numbering around 150 individuals, people who knew one another by sight. Compare
by mariodiana 11y ago
Moral sentiment evolved, more or less, on the plains of the Serengeti in groups numbering around 150 individuals, people who knew one another by sight. Compare that to the "sentiments" held by major corporations, corporations like Goldman Sachs that walk away from real estate deals that have gone bad, and do so without so much as a single qualm. When a major corporation defaults on a loan that has financed an endeavor that has gone bad, that's "just business." When an individual does such a thing, he's a "welcher."
I think the smart individual plays by two sets of rules. If you borrow from a person, play by the rules that have existed from time immemorial. But if you borrow from a corporation, play by the same rules they play by -- do what's good for you. You have to realize that these are two very different environments. To do otherwise makes you a sucker.
- leephillips 11y agoThere is a reputational cost in breaking the contract that's not part of the terms, if it becomes public knowledge (court case) or if you disclose it to future partners, as you may be obligated to do. This should be part of the calculation when deciding what's "good for you". And you may not even be aware how this damage to your reputation is affecting your life. As a landlord, I threw out one application from a tenant because he had defaulted on a student loan, and he never knew that.
- mariodiana 11y agoIt's a calculation, like any other. But my point is more to the idea of the moral aspect.
- jfolkins 11y agoYour above description is excellent in helping explain the duality of our current system (corpVShuman) which I've struggled articulating to friends. Thanks!
- mariodiana 11y agoIt's gratifying to hear that. Thank you.
- Sideloader 11y agoYup, only a sucker would take the righteous bullshit spewed by by corporations at face value. Corporations are essentially asking one to "do as I say, not as I do". The game is rigged as the events of 2008 have clearly proven.