Re:"Are US companies legally obligated to maximize profits f...
by sangnoir on Friday February 17, 2023 @01:25PM
(#34838377)
> ...while you may believe it to be "insidious" and maybe it is, it's the only reason we have a middle class.
What if the existence of a middle class is transitory? The billionare preppers certainly think our current social order is on borrowed time[1], not that I agree with their outlook, but I take that attitude as evidence that today's capital class does not particularly care for the continued existence of a middle class, unlike Henry Ford.
Once off sales are passé now, and recurring revenue is in. I suspect the middle class gets in the way of profit maximization because of the class' propensity to saving and ability to cross-shop since they have free time.
Selling Patagonia vests for leisure activities may be profitable, but it will lose out to PE squeezing out the middle class from buying homes and making them perpetual renters and unable to afford leisure activity
What if the existence of a middle class is transitory? The billionare preppers certainly think our current social order is on borrowed time[1], not that I agree with their outlook, but I take that attitude as evidence that today's capital class does not particularly care for the continued existence of a middle class, unlike Henry Ford.
Once off sales are passé now, and recurring revenue is in. I suspect the middle class gets in the way of profit maximization because of the class' propensity to saving and ability to cross-shop since they have free time.
Selling Patagonia vests for leisure activities may be profitable, but it will lose out to PE squeezing out the middle class from buying homes and making them perpetual renters and unable to afford leisure activity
1. https://www.theguardian.com/news/2022/sep/04/super-rich-prep...