Comment by ozmodiar
10 days ago
Perhaps it's more accurate to say capitalist culture is eating its own young, due to its fixation on business culture. And I'm saying that as basically a capitalist. Not sure where we go from here.
10 days ago
Perhaps it's more accurate to say capitalist culture is eating its own young, due to its fixation on business culture. And I'm saying that as basically a capitalist. Not sure where we go from here.
Shareholder supremacy is the problem.
We can go back to stakeholder capitalism.
What's the difference?
Unless a stakeholder can become a stakeholder without putting in risk capital of course.
Do you have a stake in whether your water supply is full of arsenic?
Yup!
Do you have a stake in whether the people in your community work unsafe jobs for poverty wages?
Yup!
From Claude:
"Stakeholder capitalism is a model where businesses focus on serving the interests of all parties affected by the company's operations - including employees, customers, suppliers, communities, and shareholders. The core belief is that companies should create value for all stakeholders, not just investors.
Shareholder supremacy, on the other hand, is a model where a company's primary or sole purpose is to maximize returns for its shareholders. This view, popularized by economist Milton Friedman in the 1970s, holds that businesses have no social responsibility beyond making profits for their owners while following the law."
Shareholder supremacy is a recent meme and it's wildly, obviously antisocial.
Away from unfettered capitalism, clearly.