Re:"Are US companies legally obligated to maximize profits f...
by alright_scowl on Friday February 17, 2023 @02:34PM
(#34839266)
Not really.
But they are entities designed to pursue profits as their primary motivation. With proper regulation, when the pursuit of profits align with the needs of society, they can be great to have around.
Problems arise when regulation is insufficient, when regulators are complacent or corrupt, or when governments look after the desires of corporations instead of the benefit of the people.
When that happens, then yes, they become a threat to society.
But they are entities designed to pursue profits as their primary motivation. With proper regulation, when the pursuit of profits align with the needs of society, they can be great to have around.
Problems arise when regulation is insufficient, when regulators are complacent or corrupt, or when governments look after the desires of corporations instead of the benefit of the people.
When that happens, then yes, they become a threat to society.