It’s funny how corporations get a bar wrap. Have you ever worked with private equity? Bad to worse.
replyMost PE is ironically ultimately owned by publicly traded funds. If you have a 401k that you’re not personally managing odds are that PE is where most of your gains come from.
replySee also HP. Pretty much only Costco left.
replyThis is where PBCs (Public Benefit Companies) and B-Corps may have a role to play. Something like that seems necessary to enable both (A) sufficient profitability to support innovation and viability in a capitalist society and (B) consideration of the public good. Traditional public companies aren't just disincentivized from caring about externalities, they're legally required to maximize shareholder profits, full stop. Which IMHO is a big part of the reason companies ~always become "evil".
replyCostco is such a strange and stark case standing in opposition to this general rule. From everything I hear, I can only gather that the reason is because of extremely experienced and level-headed executive staff.
replyThe previous deal was due to (a) a lower level of development of capitalism (b) a higher profit margin that collapsed in the 70s (c) a communist movement that threatened capital into behaving
reply"Is your washroom breeding Bolsheviks?"
replyMiddle class productive population produces commons goods and resources which gets exploited by Elites. Tragedy of the Commons applied to wealth generation process itself.
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