Ok but after covid, prices skyrocketed compared to pre-covid levels and we got massive inflation. Wages didn't suddenly skyrocket at the same time, hiring rates didn't go through the roof, corporate profits did though. So why would prices suddenly returning to pre-covid levels require everyone to be fired and customers to disappear when the economy was working great before? Would it just be that companies would start mass layoffs to prevent a short term decline in quarter on quarter profits which would start a negative feedback loop?
Because of how corps react to lower prices. They would just lay everyone off. Deflation itself isn't the issue, it's how little protections actual working people have and how much incentive corps have to keep their stock price high. Being able to sell something for less means less profit for the corps which is a big problem for corp leadership. So the solution is to temporally increase profits by getting rid of staff.
Ahh ok so basically it all just comes down to corporate greed determining how much we should all suffer and be punished for even considering the idea that their stock price doesn't have to keep going up every 3 months and that they might be able to survive on 5% less profit this year compared to last year. Got it.
Well, never thought my calling for an end to unregulated capitalism would be misread as excusing unregulated capitalism. This is why I don't like the term "corporate greed" because it inherently separates our failed economic system of capitalism from the behavior that in encourages.
Like it or not, currently big business is legally obligated to their shareholders to generate as much profit as possible. I do not believe greed is moral, but recognize that it is not a moral choice when the law forces a decision on a person or entity. I don't want my taxes to fund the war in Iran, but they do - I do not think that is my moral failing. It is, however, my country's failure to understand the issues, be engaged in civic society, and approach issues with nuance and subtlety.
To be clear, I am on your side and think we should tax billionaires and corporations. I just think the blame / target should be the system that allows or encourages this type of behavior, more than the people who do what is expected and instructed of them. (Of course this is not hard and fast either, lobbyists definitely push for favorable regulation for profit. Again a product of unregulated capitalism)
I get you man. Youre speaking more to the failure of the system. I got you. Sounds like we're on the same side from diff angles and I'm ok with that completely. 💪💪
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u/leconteur 15h ago
If you get to keep your job or customers.