Tuesday, January 12, 2021

We Need a New Media System — Matt Taibbi

If you sell culture war all day, don’t be surprised by the real-world consequences.
It's the business model, which in the means, it's capitalism. Firms are in business to "maximize shareholder value."

Substack (free and premium subscriptions)
We Need a New Media System
Matt Taibbi

1 comment:

Andrew Anderson said...

Firms are in business to "maximize shareholder value." Tom Hickey

No. Firms are owned by their shareholders; therefore their business is to do the will of the shareholders, which may or may not be to "maximize shareholder value."

And it's government privileges for private credit creation that minimize the need to broadly share equity. Otherwise, the will of the shareholders would much more reflect the will of the general population.