Earlier quoted context omitted.
"Chasing the highest margins" is almost the entire point of a market based economy, and is the main selling point for capitalism. I get your complaint, but if you reframe it I think it isn't the real problem here. The whole point of a market-based economy is to allocate resources to making things people actually want. How does the market figure out what people want more of? Well, profit margin. If someone is making a…
>"Chasing the highest margins" is almost the entire point of a market based economy, and is the main selling point for capitalism That's news to the ALDI brothers and Henry Ford. Capitalism used to be about the exact opposite . We moved from low volume - high margin, extractive feudal-like economics to consumer capitalism, high volume low margin. You create wealth by churning out commodities at low margins that the a…
Look, I am not saying there aren't horrible flaws with capitalism. There are a ton, and we should, as a society, work to mitigate them.
I just don't think the solution to the problem is for us to ask capitalists to not seek the highest margin. This is not a problem that is fixed by people just being more moral.
We fix this problem through public policy.