I only “disagree” in the sense that I don’t think they’re thinking that far ahead.
I think a lot of what’s driving a lot of the more stupid capitalist behavior lately is an emphasis on stock price above all else. Don’t get me wrong, capitalism never had a fantastic incentive structure, but right now I think that the base instinct is to do whatever you can to bump that stock price. Even if that means laying off your workforce and ripping the copper out of the walls.
It comes out to the same place at the end of the day. Eventually you’ll simply do too much damage to the company and you certainly don’t want to be the one left holding the bag. But… I genuinely feel like noone’s thinking beyond the current quarter. It’s like capitalism’s in a panic mode where “the apocalypse is happening tomorrow so you might as well cash in whatever you’ve got” and has been for years.
I only “disagree” in the sense that I don’t think they’re thinking that far ahead.
I think a lot of what’s driving a lot of the more stupid capitalist behavior lately is an emphasis on stock price above all else. Don’t get me wrong, capitalism never had a fantastic incentive structure, but right now I think that the base instinct is to do whatever you can to bump that stock price. Even if that means laying off your workforce and ripping the copper out of the walls.
It comes out to the same place at the end of the day. Eventually you’ll simply do too much damage to the company and you certainly don’t want to be the one left holding the bag. But… I genuinely feel like noone’s thinking beyond the current quarter. It’s like capitalism’s in a panic mode where “the apocalypse is happening tomorrow so you might as well cash in whatever you’ve got” and has been for years.