by Summary:
Left to itself, capitalism will devour itself and the system under performs which means we all get poorer. But not only have neoclassical economists under played the role of banking in the economy, they also believe that maximizing profits is always best for companies and the economy, even if it means in the long term there is under investment. China is doing the opposite and leaving us behind.After a few years of high profits, at the expense of the long term health of the company, CEO's can retire early because they have made a fortune, and with a great pension. The profit incentive is all wrong. Traditional conservatives would have understood this, who were always very prudent about money, delaying gratification today while saving their money for a rainy day and investing it for long
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Left to itself, capitalism will devour itself and the system under performs which means we all get poorer. But not only have neoclassical economists under played the role of banking in the economy, they also believe that maximizing profits is always best for companies and the economy, even if it means in the long term there is under investment. China is doing the opposite and leaving us behind.Left to itself, capitalism will devour itself and the system under performs which means we all get poorer. But not only have neoclassical economists under played the role of banking in the economy, they also believe that maximizing profits is always best for companies and the economy, even if it means in the long term there is under investment. China is doing the opposite and leaving us behind.After a few years of high profits, at the expense of the long term health of the company, CEO's can retire early because they have made a fortune, and with a great pension. The profit incentive is all wrong. Traditional conservatives would have understood this, who were always very prudent about money, delaying gratification today while saving their money for a rainy day and investing it for long
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Matias Vernengo writes Milei’s Psycho Shock Therapy
Bill Haskell writes Population Growth Outcomes
Robert Vienneau writes Books After Marx
Joel Eissenberg writes Undocumented labor: solutions, not scapegoating
After a few years of high profits, at the expense of the long term health of the company, CEO's can retire early because they have made a fortune, and with a great pension. The profit incentive is all wrong. Traditional conservatives would have understood this, who were always very prudent about money, delaying gratification today while saving their money for a rainy day and investing it for long term future. But the conservative 'greed is good ' neoliberal thugs have taken over.
