Comment on YSK: Regulations don't exist because governments like them...

• Shanmugha@lemmy.world ⁨2⁩ ⁨months⁩ ago

  Right. And how does capitalism have anything to do with it?

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  • killingspark@feddit.org ⁨2⁩ ⁨months⁩ ago

    And how does capitalism have anything to do with it?

    Oh that’s a rhetorical question right?

    Under capitalism companies have one and only one responsibility: making the most profit from the capital invested in them. This means that the responsibilities of all employees, even/especially those deciding how the company should act, are driven by this directive. A CEO would not be fulfilling their responsibilities to the shareholders if they made decisions that lower their profits without being forced by law to make those decisions.

    companies do not exist. Humans do

    Companies forwards their directive of maximizing profits to the humans that are employed by these companies.

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    • Shanmugha@lemmy.world ⁨2⁩ ⁨months⁩ ago

      No, that’s not a rhetorical question. The “profit above all else” you have described is a bullshit tracing back to this: en.m.wikipedia.org/wiki/Shareholder_primacy

      And again, there is no such thing as “companies direct responsibility”. Humans do

      So once again, what does capitalism has anything to do with people being absolute morons?

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      • killingspark@feddit.org ⁨2⁩ ⁨months⁩ ago

        It’s not people being morons it’s people following the incentives of the system and fulfilling the responsibilities given to them by the companies they work for. Both of those are directly tied to capitalism.

        How exactly do you think that Wikipedia page disputes that companies are incentivised to maximize profit over everything else? It clearly says that

        However, the doctrine of shareholder primacy has been criticized for being at odds with corporate social responsibility and other legal obligations.

        The social responsibilities have to be enforced from the outside exactly because they are “at odds” with what companies would do without that enforcement.

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