It's time for better capitalism

[applegrove]

Henry Blodget at Business Insider

http://www.businessinsider.com/henry-blodget-better-capitalism-1-2018

"SNIP...........

Over the past few decades, the US economy has undergone a profound change.

This change has helped rich Americans get richer. But it has also contributed to growing income inequality and the decline of the middle class. In so doing, it has fueled populist anger across the political spectrum and slowed the growth of the economy as a whole.

What is this change?

The embrace of the idea that the only mission of companies is to maximize short-term profit for shareholders.


............SNIP"

[JHB]

1. Conservatives will still call better capitalism socialism..

They’ll continue to drive us toward worse until they’re driven into the political wilderness.

[kimbutgar]

2. I saw this happening in the 1980s where profit over people became more important.

I took a pre mba course to see if I thought I wanted to get my MBA and they told me the number one goal of a company is to increase profits and shareholder wealth. And to never consider people because they were indispensable. I challenged the professor at the time asking them “what happens when the goods and services can no longer be brought by average working Americans”. He said then the country should outsource labor then to cheaper countries to lower costs. At the time I was appalled and decided against getting my MBA because it was not worth it. And I was not so callous to hurt people.