Bad capitalists, yes. The trend of “maximize profit this quarter at the expense of everything else” is a recent (meaning a few decades old) idea.
Once upon a time the boards of publicly traded companies could think long term and sacrifice short term gains without getting fired by shareholders. When a large firm prioritizes long term success efficiency still matters but so do things like building reputation through quality and retaining talent - the things sorely missing from publicly traded firms today.
Bad capitalists, yes. The trend of “maximize profit this quarter at the expense of everything else” is a recent (meaning a few decades old) idea.
Once upon a time the boards of publicly traded companies could think long term and sacrifice short term gains without getting fired by shareholders. When a large firm prioritizes long term success efficiency still matters but so do things like building reputation through quality and retaining talent - the things sorely missing from publicly traded firms today.
The commodification of securities has been one of the most ruinous trends in human history.
There are only bad capitalists now, the good ones have been eaten.