Quote:
Originally Posted by wdfifteen
That's an example of skirting around a problem instead of fixing it. US manufacturers should have focused on the needs of employees as well as of the demands of stockholders. The extreme emphasis on "stockholder value" has been a disaster. The adversarial relationship between labor and management has been a problem in the West since the industrial age began. Maybe in the East they saw the disastrous results of the continuous fight between labor and management and took a different attitude toward their workers, I don't know, but I do know their workers are making money and buying products while our work force is being laid off and turning to drugs.
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this.
venture capital destroyed quality in america.
the purpose of a business shouldn't be profitability, it should be sustained value creation. the focus on profitability means you just gut everything, make a bunch of money, and destroy what someone else took a lifetime to build. you destroy it in 5-10 years, profit handsomely, and then move on to the next company that someone took a lifetime to build. and they built that business over a lifetime with sustained value creation.
labor builds, capital destroys.