Just read all the top line comments here. Interesting that no one had mentioned the one thing that has probably done the most to "better our chances as species" in the last few hundred years, and has helped hundreds of millions in India and China get out of backbreaking poverty and accumulate some wealth. And that is... Work hard, accumulate skills, and become better at your normal job. Even if you're not writing ope…
I couldn't disagree more. There's a lot of jobs that add little to no value. In a fictional efficient market economy that conforms to neoclassical assumptions, sure, every job is value adding. But does anyone believe that that is the world we live in? It's comforting to think that just going to work and doing your job is actually contributing to something, but I just don't see how that can be generally true and defin…
I can't imagine how it would NOT be true. Say you buy something from the store. Presumably you're getting more value from it than it costs, if you weren't, you wouldn't buy it. Same with a company. If an employee provides more value than their salary, it makes sense to hire them. Otherwise it doesn't. Sure it's not perfect and wages are sticky and people skate by etc, but you have to be pretty cynical to think most people aren't providing net value at their jobs. Maybe we have a different definition of "contributing to something."
Also:
"...there have been several studies showing that the average company destroys shareholder value on net."
Maybe I'm misunderstanding something or this is a typo, but how could this be true? Shareholder value isn't an abstract concept like love or blue, it's the number of shares in a co*their price. The SP 500 is not negative.