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Sat Dec 21, 2019, 11:22 AM

What if the profit

Imperative was removed from the corporate charter?

At one time in the past corporations had to work for the public good.

What happened to that Noble idea?

Since they work for profit of the owner we all suffer. Maybe the profit imperative needs to be cut out,removed from corporations.

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Reply What if the profit (Original post)
I_UndergroundPanther Dec 21 OP
Cary Dec 21 #1
I_UndergroundPanther Dec 21 #2
Hoyt Dec 21 #3

Response to I_UndergroundPanther (Original post)

Sat Dec 21, 2019, 11:31 AM

1. Like all good lies the premise of radical capitalism has some truth

The laws of supply and demand are as sound as ever. The problem is not the profit motive. The problem is a lack of.political will to remediate short term market inefficiencies that exist in the real world but radical capitalists of all stripes refuse to acknowledge on ideological prejudice.

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Response to Cary (Reply #1)

Sat Dec 21, 2019, 11:37 AM

2. But the growth imperative

Combined with the profit imperative will destroy this world,literally if it keeps going like it is. Capitalism as we have it has to go.

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Response to I_UndergroundPanther (Original post)

Sat Dec 21, 2019, 11:47 AM

3. Actually, there is no legal requirement for corporations to maximize profits. In fact, that's a

Last edited Sat Dec 21, 2019, 12:59 PM - Edit history (1)

difficult phrase to measure. Is it profits in short-run or profits long-term, etc.

Granted, most corporations do attempt to make a profit. Otherwise most people wouldn't invest in them, they'd donate their money.

Fact is, if corporations weren't making money, they wouldn't be viable long-term and we'd all be scrounging for food in the streets.

Denmark has corporations and billionaires. Fortunately, their government, citizens, and corporations have developed a view that considers society a stakeholder. Some corporations here have that, but not nearly enough.

I went to a very conservative school in the 1960/70s. 55 years ago, business professors talked of "satisfying profits." Far too often, today, that's not the case. But that can be changed.

In any event, we need to increase taxes and hope to heck there are a lot of billionaires and corporations to tax to provide citizens with healthcare, childcare, climate change, education, college loan forgiveness, bolstering Social Security, deficit and national debt reduction, guaranteed income, etc.

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