like I went to taco bell and they didn’t even have napkins out. they had the other stuff just no napkins, I assume because some fucking ghoul noticed people liked taking them for their cars so now we just don’t get napkins! so they can save $100 per quarter rather than provide the barest minimum quality of life features.
That’s the end result of a capitalist system once corporations have superseded governments in power. It will only get worse.
Yeah, we may be at checkmate. Unlike the end of the age of the robber barons, when we reformed capitalism in the late 1800s / early 1900s in the US… this time the capitalists have purchased enough politicians to stop reform completely and forever.
What’s funny is that this is entirely unsustainable. If they were in any way a real “capitalist” they would realize that the creeping authoritarianism they’re pushing destroys economies long-term. They’re laughing all the way to the bank right now because they’re not concerned with the future.
However, they should be, because this House of Cards can easily collapse with the right push. They literally can’t see past the profits at the end of the next quarter.
They literally can’t imagine that all of them choosing to undermine capitalist principles at the same time will result in capitalism failing completely. The only reason it even functioned as well as it did for so long was 1. regulation and 2. raping the third world for resources.
I mean, I’m a fucking leftist, and it makes me feel like I’m taking crazy pills that things are so far gone that I’m actually arguing “if we’re going to do capitalism, we may as well do it in a way that it actually functions properly” as if that is a fucking fringe idea here.
The wheels are about to fly off this fuckin turkey.
Yep! And their short-sighted greed is going to drive us right to the brink of annihilation. We’re staring down the barrel of environmental collapse and our leaders are generally either old enough they assume they’ll die before it gets “that bad,” and the others stupidly think money makes them immune to the destruction of the biosphere. Anyone under 50 right now is going to live through some incredibly dark times. We are all dogs in a car with the windows closed and the heater on in a Texas parking lot. Business as usual is going to get really ugly, really quickly, really soon.
Unfortunately their house of cards is built on a foundation of wealth…and not just fuck you money, but literal centuries of fuck you money.
The fortune 50 I worked for could literally stop doing all business and maintain their current spend for a century and still be solvent.
This isn’t unstable at all…it’s built to last for 100s of years…the current leaders to their grandkids will be safe.
To further that…the 1% have private armies and well stocked bunkers to ride out any social uprising. That’s the really scary stuff.
We are all fucked though. Enjoy the hunger games.
That’s the thing, though, they don’t care about the future. They only want to maximize today’s profits.
Tomorrow is someone else’s problem.
I don’t know how to solve this problem without a massive peiod of hardship for everyone until the societal parasites finally feel the pain , but the cause is pretty obvious.
Thank you! I’ve been reading the responses and many of them hit the mark, but yours is the only one mentioning the sbortsightedness of it all. My brother and I have had many conversations about this subject and agree that part of it has to be some kind of collective brain misfire for the lack of a better phrase, that happens to organisms that get to the level we’re at, since everything that we build moves faster than evolution will allow our brains to adapt to, and while we see all of this as a mistake we’ve made or a small subset of us being greedy and upsetting the apple cart, I posit that it is just our species finally reaching a bottleneck that all species eventually face. We just artificially pushed the ceiling further and further upward so we didn’t see it. I think we are starting to see it though and it’s unlikely that we can do anything to stop from hitting it now.
Uh, didn’t the rich rather famously buy political influence back then as well?
Yes, but not at the same scale. They’ve become masters at it in the modern age.
I mean, hypothetically. That is the end result of the neoliberal, or late capitalism economic philosophy if applied on a model. But economic systems in practice are never the philosophy, and are only there in the first place to support the governance of a nation state. I spend half my time in Italy, for example, where the laws protect both the big international brands and the mom and pop shops.
My point is that we are the citizens that make up the government that designs the governance rules for our nation-state. Capitalism is not a government, or people, or the entire story when it comes to commerce and trade systems. We can shape it and use it, like any other framework.
Likewise, regardless of your economic system, greedy people will try to accumulate power, bend the rules to benefit themselves, and extend those benefits across borders if they can. Powerful egos will warp people and rules around them like gravity. All governance systems that strive to be just, collaborative and promote the quality of life of all its citizens have to both put strong rules in place to check the power-hungry, and constantly monitor and adapt to keep them in check.
“…we are the citizens that make up the government that designs the governance rules for our nation-state.”
No we’re not. We only have the illusion of control where we are allowed to vote on how to tinker with the outer edges of a system that is in reality controlled by 0.1% of the population.
You load 16 tons, what do you get?
Another day older and deeper in debt
St. Peter, don’t you call me 'cause I can’t go
I owe my soul to the company store
Much as I love that song, it doesn’t really apply to the OP question, which is more about companies exploiting their customers rather than their workers.
I think what a lot of people are saying is that they do both, exploit their customers and their workers.
That is what people miss. This is “the system”. It starts and ends with government and “we” chose this (I’m Canadian, we have similar issues but not as extreme, yet).
By continually voting in sociopathic narcissistic social climbers as both public and private sector policy makers (think of shareholders and corporate governance boards) we ensure the system is rigged for the top dogs.
The truth is the system could work in the average person’s favour very easily but it would mean limiting some personal freedoms; mostly of very, very rich people. It also would require the average person to get off the “everyone is exploiting me, so I need to do that to them first” treadmill.
Many people have never been on that treadmill (never had the chance or donate excess income or time to local food banks, etc).
The very, very rich don’t care. They simply maximize the profit in any situation. Put them in prison and they’ll give out legal advice for cigarettes and turn that into a burner phone they use to call their Cayman Islands broker.
It’s the upper/upper-middle people who will feel the pain as income is redistributed to poverty stricken people. And if we just impose ubi without fixing the “CEO problem” it will simply lead to inflation. Sucess of ubi programs is entirely due to it happening in a local market. Expand globally without fixing capitalism and you get inflation.
A socialist approach that still allows significant room for upwrd mobility (e.g. CEO can make up to 10x minimum wage, as a non-expert guess) with some type of employee representation on the board of large businesses (state imposed labour union) would probably do it.
Then make ubi contingent on minor public service with free daycare that you can use when performing said services (exception if you have more than 2 kids under 12, or are disabled in some way) say two days a week (networking, activity, build resume) would be a brainstorming idea to workshop.
And it seems that “our corporate masters” don’t understand that underpaid or laid off people don’t have the purchasing power to buy more stuff.
In their relentless pursuit of profits, they are killing off the ability of people to be customers.
I think what this comment is trying to say is that we’re headed towards an age that resembles what that song talks about: An age of unfettered capitalism, with a small number of corporation owning so much of the market that they can do what they want with no repercussions.
the song was about company towns where the laborers were paid in store credit instead of wages. you’d work, but never pay off debts, since it all went back to the companies who set the prices for everything you buy, and so they were able to keep you on a tight leash.
That’s how it feels like things are going now. a few companies own everything, pay our wages, and set our prices. we cannot get ahead.
Huggies went up in price, but their cost of manufacturing actually went down.
It’s got nothing to do with profit margins, it’s just pure greed. Also, the law requires that publicly traded companies be greedy.
Also, the law requires that publicly traded companies be greedy
The law doesn’t actually state you need screw over your customers and maximize profit. It says that executives have a fiduciary duty, which means they must act in the best interest of the shareholder, not themselves.
That does not mean they have to suck out every single dollar of profit. Executives have some leeway in this and can very easily explain that napkins lead to happier customers and longer term retention which means long term profits.
It’s purely a short-term, wall street driven, behavior also driven by executive pay being also based in stock so they’re incentivized to drive up the price over the next quarter so they can cash out.
Yeah sure, but then you could also say the same about a private business. The CEO works for the business owner, whether the owner is private or public stockholders.
But the reality is that publicly traded companies end up being far more greedy and profit driven than private businesses. In particular, the greedy private businesses tend to taget an IPO, while the more conscientious ones remain private.
Maybe I should have said “it’s nothing to do with maintaining profit margins” against rising costs.
How does the law require them to be greedy?
I just assumed that it was shareholders.
Not technically a “law”…
“The shareholder wealth maximization doctrine requires public corporations to pursue a single purpose to the exclusion of all others: increase the wealth of shareholders by increasing the value of their shares. However, a company should be committed to enhance shareholder value and comply with all regulations and laws that govern shareholder’s rights.”
The" however… " part is largely ignored, except for when it benefits shareholders.
The “however” part you quoted explicitly mentions following the rights of shareholders. From what you described, there’s literally nothing else in the doctrine to ignore.
The brands shuffle their designs to stay ahead of IP laws. Gillette made the definitive shaving razor in 1901, the patent subsequently expired and anyone could make it, now they make new razors every few years to stay ahead of the curve.
With nappies, the correct answer is reusable nappies. It sounds gross, but when you’re a parent you quickly learn to deal with all kinds of shit.
You also get funky designs and stuff. The insides are interchangeable, the oustides are fashion.
when you’re a parent you quickly learn to deal with all kinds of shit.
Depends if you have a second washing machine because you’re now creating a new waste and different expense. Also depends on how much time you have and every dual income family answer the same. None. So no the generalisation that reusables are the solution is not accurate at all. I’d prefer biodegradable nappies any day. The washing machine goes over time as it is with the 14 outfit changes every day.
Because stocks kept trading at higher and higher P/E ratios essentially saying “the market thinks this company can make much more money in the future than they are making now.”
The problem is, most companies couldn’t, and as we have hit a recessionary phase those companies are now scrambling to try to show continued growth justifying their price.
The way they do that is by cutting off their limbs and selling them for short term cash at long term consequence.
So you see them cutting costs in all kinds of ways that screw over their customers but can show quarterly profits. Even though it means customers may not stay customers if better options appear.
So we are in this sort of pendulum swing period where large corporations suck because there’s effectively no competition that doesn’t and sucking is the last way for them to squeeze water from a stone. The natural solution is that we’d see competition rise up that doesn’t suck to take their customers away and force pro-customer changes.
This likely will eventually happen, but it’s going to take time. There are emerging tech trends that will accelerate it, but are still a few years away from practically changing the equation.
In about a decade things should suck less, and a number of the crappy companies around right now may no longer be around, but in the meantime it’s still going to suck for a while yet as things adjust to the dying of the old guard and birth of the new.
I don’t really agree with this. It is the answer that I think classical economics would give but I just don’t think it’s useful. For one, it ignores politics. Large corporations also have bought our government, and a few large wealth management funds like vanguard own a de facto controlling share in many public companies, oftentimes including virtually an entire industry, such that competition between them isn’t really incentived as much as financial shenanigans and other Jack Welch style shit.
Some scholars (i think I read this in Adrienne bullers value of a whale, which is basically basis for this entire comment) even argue that we’ve reached a point where it might be more useful to think of our economy as a planned economy, but planned by finance instead of a state central authority.
All that is to say: why would we expect competition to grow, as you suggest, when the current companies already won, and therefore have the power to crush competition? They’ve already dismantled so many of the antimonopoly and other regulations standing in their way. The classical economics argument treats these new better companies as just sorta rising out of the aether but in reality there’s a whole political context that is probably worth considering.
Good point well made. I think it’s usually naive wishful thinking (for a “just world” that makes sense and is going to be OK, actually) that allows a liberal capitalist apologist to point to classical economics and say “see the companies are hurting,” but the companies don’t have feelings, and the owners and shareholders are feeling just fine.
I woukd say it’s even worse than that: Free Market only works if humans behaved in a certain way (the so called homo economicus) which has long be disproven by Behavioural Economics and in Markets with low barriers to entry (i.e. teddy bears or soap, not railways or internet service provision) and even then it can’t deal will systemic problems (basically any Negative Externality such as Polution or Greenhouse Gas emissions, or over consumption of share resources - a.k.a. Tragedy of the Commons - such as with overfishing or in depletion of mineral resources).
People have been fed by politicians and think-tanks with shaddy funding an oversimplified theory that sounds amazing if you do not at all dig into the details, whilst not actually working in reality, not even close, but of course you’re never be told that by the people who win the most from the system built on top of this theory.
(It’s actually funny how this is the Capitalist mirror of Communism: beautiful high-level theory, never worked and can’t work in practice - because people are as they are, the physical world is as it is and human systems work as they work - and the people whose priviledges come from the system created to implement said theories will never ever tell you they don’t work and never will even after a half a century experiment: in fact they’ll just tell you it’s only not working as expected because it has not been done with enough “purity” and hence we need to double-down to make it work)
I disagree on your expectations for improvement, though agree on the rest.
There are lots of markets with natural barriers to entry were there isn’t any realistic chance for a new competitor to arrise and even if one did thanks to, say, some new technology, they’ll almost certainly only “disrupt” until they became well established and then do the same as all the rest because that maximizes profitability (just look at Uber a decade ago and look at Uber now).
Then there are lots of markets were crooked politcians (which nowadys seems to be most of the ones in the mainstream parties) make sure there are artificial barriers to entry so that well-connected companies are protected from competition - pretty much any market were an operating license is required, such as Banking and Mobile works like that - and that too means no costumer-friendly competitors will arrise in such markets, ever, because the gatekeeping which is in the hands of said crooked politians stops them before they even start, and said political gatekeepers couldn’t care less about consumer-friendliness of market participants and they’ll only change their ways if forced to politically and that’s not going to happen in countries with voting systems designed to maintain a political duopoly such as the US were the politicians rarelly fear losing their positions, especially on complex hard to explain things like how consumers suffer from them “maintaing high artifical market barriers to entry”
In the old days, before neoliberalism got entrenched, you might have such natural or artificial monopoly or cartel markets occupied by a Public company, which due to the lack of competition quickly grew inneficient (in my professional experience the same happens in Private companies in such a situation, by the way), though cheap, and on which there was often political pressure to improve. Now you have them occupied by Private companies who are driven solely by profit-seeking, so it’s still shit (because they cut costs) only it’s also expensive for customers rather than cheap (because they try to squeeze costumers with high prices) and suffers zero political pressure because the politicians hide behind the “It’s a Free Market” to refuse to regulate whilst secretly waiting for their Non-executive board memberships as rewards for being “friends of business” - a wonderful example of all this are Railways in the UK.
Unregulated capitalism.
I cant wait to be arrested for not noticing the napkin dispenser is empty fast enough
This is by far the biggest problem - most people don’t put up with that shit and will publicly murder a company that tries it on.
It’s just this one country, you know, the one with the guns, that rolls over to get their bellies scratched when the billionaires come knocking
