Comment by nerdsniper
14 hours ago
IMHO this should have been written “to the customers and employees”. To me, those are the people who compose a business enterprise.
14 hours ago
IMHO this should have been written “to the customers and employees”. To me, those are the people who compose a business enterprise.
I’ve never seen that work. There is a fundamental tension between those groups. Hence, member-owned co-ops and employee-owned co-ops.
> I’ve never seen that work. There is a fundamental tension between those groups. Hence, member-owned co-ops and employee-owned co-ops.
Focusing strictly on shareholders (value) has been en vogue since the 1970s:
* https://en.wikipedia.org/wiki/Friedman_doctrine
Before that the general thinking was along the lines of:
* https://en.wikipedia.org/wiki/Stakeholder_theory
Somehow companies managed to survive and grow before the 1970s.
> Focusing strictly on shareholders (value) has been en vogue since the 1970s
It's been in vogue, in circles, since the 17th century. We're not talking about for-profit structures here.
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But the customers and employees don’t actually put up the money for the enterprise.
If you assume there is an airplane — great, run the airline for the customers and employees. But the cost of the airplane can’t be handwaved away.