Sundar Pichai, CEO of Alphabet Inc and its subsidiary Google, testified Monday in a once-in-a generation antitrust fight with the U.S. government that the company sought to make browser use and internet search easy and secure.
While I agree with the sentiment, locking away executives isn’t going to fix anything in the long term. Shareholder capitalism (and capitalism’s need for constant growth at any cost) is the root issue here that needs go be fixed.
We go through periods of antitrust enforcement, but it always devolves back into monopolies/oligopolies. It’s just putting a bandage on a gaping wound and calling it a job well-done.
The honest and genuine businesses aren’t rewarded to nearly the same extent as the corporations who exploit their labor force and their consumer base, and who lobby the government to write laws benefiting them.
If the system worked, then the honest and genuine businesses would be rewarded with more profit than the exploitative businesses.
For example, Nestlé makes more money by exploiting child labor and stealing water than if they didn’t do those things.
Walmart made more money by driving small businesses out of business than if they were to allow competition from those small businesses. Same with Amazon.
We need to have a system that both punishes exploitative corporations and people, and also rewards the honest, non-exploitative businesses and people.
While I agree with the sentiment, locking away executives isn’t going to fix anything in the long term. Shareholder capitalism (and capitalism’s need for constant growth at any cost) is the root issue here that needs go be fixed.
We go through periods of antitrust enforcement, but it always devolves back into monopolies/oligopolies. It’s just putting a bandage on a gaping wound and calling it a job well-done.
We need real, systemic change worldwide.
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Which is correct, but I believe that the mafia of executives and shareholders is a symptom of the larger problem of capitalism as a whole.
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The honest and genuine businesses aren’t rewarded to nearly the same extent as the corporations who exploit their labor force and their consumer base, and who lobby the government to write laws benefiting them.
If the system worked, then the honest and genuine businesses would be rewarded with more profit than the exploitative businesses.
For example, Nestlé makes more money by exploiting child labor and stealing water than if they didn’t do those things.
Walmart made more money by driving small businesses out of business than if they were to allow competition from those small businesses. Same with Amazon.
We need to have a system that both punishes exploitative corporations and people, and also rewards the honest, non-exploitative businesses and people.