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Joined 1 year ago
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Cake day: June 15th, 2023

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  • But there’s no law that governs what a ceo can or can’t do with regard to profit or success, as long as they can show they were acting in the best interest of the company.

    This may be technically true but it doesn’t play out like that and can’t due to structural reasons. The situation arose from Henry Ford paying his workers substantially above what was deemed necessary because he wanted the workers to become consumers, preferably Ford consumers, and the shareholders instead wanted the extra bit in those pay packets to go to them instead. The shareholders took Ford to court and won. Now shareholders for the most part aren’t even people or small groups who can be persuaded by things like growing a healthy consumer base in the economy, they’re various large funds trying to simply maximize the amount of money they generate independent of any thought about overall economic health.