quote:
Originally posted by Bernard:
And never a thought about the environmental impact. Amazon doesn't have a conscience. $b speak louder than preservation of our planet.
Corporations aren't supposed to have a conscience, because, despite what the Supreme Court says, they aren't people. People in control of corporations can have principles. Even that's flawed, though, because most large corporations are owned by many people, and they don't have shared principles. Other than a desire to make money.
But, really, we shouldn't expect corporations to have principles. They are organized to make money. They should try to do that in the most efficient, legal way possible, because that's what their competitors are going to do. If there are societal good things that we want corporations to do, we should affirmatively impose those obligations by law and regulation. That way, corporations don't have to worry that they are putting themselves at a competitive disadvantage by failing to act in a profit-maximizing manner.
And here's the key point ... a corporation that fails to act in a profit-maximizing manner is vulnerable. If their profits are less, they are less valuable. If they are less valuable, their shares sell for less. Which creates room for some sharp operator to buy up all those "undervalued" shares, and change corporate practices to maximize profits and make those shares more valuable. So, trying to achieve corporate principles, other than making money, isn't a sustainable business practice for any company that isn't majority-owned by one or a small group of people.
We should have learned that lesson in the 80s.
Jodi
