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.
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There are only bad capitalists now, the good ones have been eaten.