Corporate Greed will be our Downfall.

[Bodi]

Corporate greed is one of the biggest threats to America’s future.

Too many companies prioritize profit over people and this leads to unfair wages, poor working conditions, and environmental damage. Corporate greed creates a divide between the wealthy and the rest of society, making it harder for everyday Americans to thrive.

As businesses care less and less about people and focus on maximizing their earnings, they often ignore the impact on their employees and communities. If this trend continues, it could weaken the economy and harm the country in the long run, hurting not just workers, but the nation's future stability.

 

[Rexedgar]

Corporate greed is one of the biggest threats to America’s future.

Too many companies prioritize profit over people and this leads to unfair wages, poor working conditions, and environmental damage. Corporate greed creates a divide between the wealthy and the rest of society, making it harder for everyday Americans to thrive.

As businesses care less and less about people and focus on maximizing their earnings, they often ignore the impact on their employees and communities. If this trend continues, it could weaken the economy and harm the country in the long run, hurting not just workers, but the nation's future stability.

You post like this is some new phenomena….

 

[Port & Starboard]

Aristotle shrugs........

 

[eman623]

Corporate greed is one of the biggest threats to America’s future.

Too many companies prioritize profit over people and this leads to unfair wages, poor working conditions, and environmental damage. Corporate greed creates a divide between the wealthy and the rest of society, making it harder for everyday Americans to thrive.

As businesses care less and less about people and focus on maximizing their earnings, they often ignore the impact on their employees and communities. If this trend continues, it could weaken the economy and harm the country in the long run, hurting not just workers, but the nation's future stability.

I'd start by pulling back offshored jobs from China.

Globalism is a bad policy that has benefitted corporations but weakened Americans displaced, and made us to dependent on out #1 geopolitical enemy for our supply chains.

 

[Rexedgar]

The difference this go-around is that corporate America has government in their pocket, “like so many nickels and dimes.”

Extra credit for knowing where the quote comes from.

 

[Rexedgar]

I'd start by pulling back offshored jobs from China.

What about these jobs?

Additionally, India has been a major destination for offshored white-collar jobs, particularly in software and back-offices services, while Mexico is the most popular country for American expatriates, followed by Canada, Portugal and Singapore.

Globalism is a bad policy that has benefitted corporations but weakened Americans displaced, and made us to dependent on out #1 geopolitical enemy for our supply chains.

 

[Helix]

"Will be?" Move to a red state. Make sure that you're rich and in charge, first, though.

 

[Ishm]

I'd start by pulling back offshored jobs from China.

Globalism is a bad policy that has benefitted corporations but weakened Americans displaced, and made us to dependent on out #1 geopolitical enemy for our supply chains.

As well as all the other considerations and problems with this, where do we get all the workers we would need? Only a fraction of todays low number of unemployed are actually truly employable, so no way we can replace all the production currently imported from China. I do agree though that there are some important industries that we should onshore again more, like done with the CHIPS act for instance. When it comes to 'widgets' for the kids etc though, we don't need that stuff depleting our limited worker pool. Let China, or whoever wants to, manufacture those products for us.

Globalism has pushed manufacturing to the cheapest manufacturing countries. It has pulled 100's of millions of people out of poverty around the world, while aiding lifestyle growth in the wealthy countries that import the cheaper goods. It has also aided American exports that the growing middle classes in many of those other countries can now afford. Globalism does have it's issues, but it also provides a lot of advantages that need to be understood and considered in any changed approach.

 

[eman623]

As well as all the other considerations and problems with this, where do we get all the workers we would need?

Mexico. And if Mexico doesn't have enough workers, then from Mexico's Mexico (aka Guatemala, Honduras, El Salvador, etc). Maybe India. At least keep it in the Western Hemisphere and/or among countries that don't want to see us ended as a world power.

Only a fraction of todays low number of unemployed are actually truly employable, so no way we can replace all the production currently imported from China. I do agree though that there are some important industries that we should onshore again more, like done with the CHIPS act for instance. When it comes to 'widgets' for the kids etc though, we don't need that stuff depleting our limited worker pool. Let China, or whoever wants to, manufacture those products for us.

Not China. If I see two products on the shelf and one says, "Made in China" and the other is made anywhere else, I'll pick the Not China one.

Globalism has pushed manufacturing to the cheapest manufacturing countries. It has pulled 100's of millions of people out of poverty around the world, while aiding lifestyle growth in the wealthy countries that import the cheaper goods. It has also aided American exports that the growing middle classes in many of those other countries can now afford. Globalism does have it's issues, but it also provides a lot of advantages that need to be understood and considered in any changed approach.

Globalism is ending in favor of Regionalism. America is not going to be spending it's men and treasure keeping the oceans safe for the Chinese to ship their shoddy crap around the world much longer.

 

[devildavid]

The difference this go-around is that corporate America has government in their pocket, “like so many nickels and dimes.”

Extra credit for knowing where the quote comes from.

The Godfather. I will humbly accept my extra credit.

 

[Ishm]

Mexico. And if Mexico doesn't have enough workers, then from Mexico's Mexico (aka Guatemala, Honduras, El Salvador, etc). Maybe India. At least keep it in the Western Hemisphere and/or among countries that don't want to see us ended as a world power.

Your buddy Trump is currently on a rant about forcing jobs back from Mexico as well. And those other countries are getting many of their migrants that came to the US returned to them. There are plenty on the right who don't want 'brown' migrants at all. The reality is that the organic growth of the US working population is not fast enough to keep up with the desired GDP growth, even allowing for productivity improvements. Yet Trumps maga agenda is anti almost any immigration other than whatever Musk tells him he wants.

Not China. If I see two products on the shelf and one says, "Made in China" and the other is made anywhere else, I'll pick the Not China one.

And that is fine. That's part of why we have country of origin labelling. However, a whole lot more people are more concerned about the price than the country of origin.

Globalism is ending in favor of Regionalism. America is not going to be spending it's men and treasure keeping the oceans safe for the Chinese to ship their shoddy crap around the world much longer.

The reality is that quite a lot of the world are currently reacting to the amount of goods they import from China, and how that affects their own manufacturers. The Chinese govt is not always a good and honest trade partner. On the other hand, China is a huge economy that imports a huge amount from other countries as well, so those that want to benefit from that need to find balance. My feeling is that the world is in difficult financial position right now, and has not really recovered from Covid's economic impact. All the trade tensions with China are part of that difficult position as countries see the threat of a global recession looming. The US has done incredibly well economically post covid compared to most other countries, so we shouldn't underestimate how bad the global economy might get if triggered into a recessionary spiral. The US won't stay insulated from that if it occurs.

 

[eman623]

Your buddy Trump...

I stopped reading there.

Have a great day. Next time post better.

 

[tshade]

Corporate greed is one of the biggest threats to America’s future.

Too many companies prioritize profit over people and this leads to unfair wages, poor working conditions, and environmental damage. Corporate greed creates a divide between the wealthy and the rest of society, making it harder for everyday Americans to thrive.

As businesses care less and less about people and focus on maximizing their earnings, they often ignore the impact on their employees and communities. If this trend continues, it could weaken the economy and harm the country in the long run, hurting not just workers, but the nation's future stability.

well, you are right, maybe.............but the very same thing you state was stated 150 years ago, so...........

 

[Rexedgar]

well, you are right, maybe.............but the very same thing you state was stated 150 years ago, so...........

Link?

 

[Econ4every1]

Globalism is a bad policy that has benefitted corporations but weakened Americans displaced, and made us to dependent on out #1 geopolitical enemy for our supply chains.

The problem of globalization is that when the low skilled(ish) jobs went over seas, the country never made the investment in higher skilled jobs that should have taken their place. Instead, as you point out the dollars drifted toward the top end of the income and wealth spectrum.

But let's be fair, brining back those jobs, or leaving them here in the first place isn't the solution either. First, if the demand for those jobs is ever shifted back, the facilities built will require 30-70% less people. In other words, if 1000 low skilled jobs are displaced from over seas and find their way back, only 300-700 jobs will result. Just look at Tesla. They employ 12 people for ever car that was made last year. Ford employed 25 for every car produced.

In the end, the wealthy will structure their businesses so they profit. Shifting jobs back to the US won't change that.

What we need is a commitment for education, college, trades, healthcare, education and other kinds of work. That is the only answer to the problems we have today. We can't expect the world and all the nations in it, to conform to the economy that you might think we should have, rather the US has to conform itself to the global economy.

 

[dseag2]

Publicly traded companies have been all about satisfying their shareholders vs. pleasing their employees for years. This is not a new phenomenon. I worked for two during a 22-year period. The second one had the highest productivity per employee in their particular industry. That translates to "we worked our asses off and had no personal lives". Corporate greed has been in place for decades and we seem to still be okay.

 

[dseag2]

Your buddy Trump is currently on a rant about forcing jobs back from Mexico as well. And those other countries are getting many of their migrants that came to the US returned to them. There are plenty on the right who don't want 'brown' migrants at all. The reality is that the organic growth of the US working population is not fast enough to keep up with the desired GDP growth, even allowing for productivity improvements. Yet Trumps maga agenda is anti almost any immigration other than whatever Musk tells him he wants.

And that is fine. That's part of why we have country of origin labelling. However, a whole lot more people are more concerned about the price than the country of origin.

The reality is that quite a lot of the world are currently reacting to the amount of goods they import from China, and how that affects their own manufacturers. The Chinese govt is not always a good and honest trade partner. On the other hand, China is a huge economy that imports a huge amount from other countries as well, so those that want to benefit from that need to find balance. My feeling is that the world is in difficult financial position right now, and has not really recovered from Covid's economic impact. All the trade tensions with China are part of that difficult position as countries see the threat of a global recession looming. The US has done incredibly well economically post covid compared to most other countries, so we shouldn't underestimate how bad the global economy might get if triggered into a recessionary spiral. The US won't stay insulated from that if it occurs.

Agree with all, especially the bolded. Trades are no longer being encouraged in this country and many of the whites don't want to get their hands dirty. 90% of the service men that keep my home maintained are brown. Painting, plumbing, electrical, landscaping... you name it. Also, the US population has decreased from 2 to 1.6 children with the past couple of decades. We need immigrants to keep our economy solid.

 

[Sweden]

Corporate greed is one of the biggest threats to America’s future.

Too many companies prioritize profit over people and this leads to unfair wages, poor working conditions, and environmental damage. Corporate greed creates a divide between the wealthy and the rest of society, making it harder for everyday Americans to thrive.

As businesses care less and less about people and focus on maximizing their earnings, they often ignore the impact on their employees and communities. If this trend continues, it could weaken the economy and harm the country in the long run, hurting not just workers, but the nation's future stability.

It is companies task to maximise their profits and create wealth. It is for governments to levy taxes at appropriate levels and for unions to negotiate fair wages and service conditions. Both governments and unions must understand that companies must be profitable if they are to survive.

 

[ataraxia]

I'd start by pulling back offshored jobs from China.

Globalism is a bad policy that has benefitted corporations but weakened Americans displaced, and made us to dependent on out #1 geopolitical enemy for our supply chains.

It’s not quite that simple.

https://www.cato.org/publications/misplaced-nostalgia-less-globalized-past

 

[eman623]

It’s not quite that simple.

https://www.cato.org/publications/misplaced-nostalgia-less-globalized-past

Agreed. Globalism like most economic policies is both good and bad. Good for the consumer, bad for the displaced workers and still-employed workers who face downward pressure on wages.

But there are also geopolitical implications to globalism. After WWII, when globalism really got going, our #1 geopolitical foe, the Soviet Union mostly refused to join the system. Globalism was a capitalist thing and the Soviets didn't believe in capitalism.

Our big mistake was to invite China to join in in the 1990's. It was assumed that if China opened up economically, they would open up politically. That did not happen. Now the world is so economically intertwined with China, they have unprecedented power over our essential goods. Prescription drugs, EV batteries, they are even looking to take over Taiwan and capture the world's high-end semiconductor supply. It will take a decade or more to disengage from them.

The West instituted globalism in part to provide a bulwark against Soviet aggression. It worked spectacularly. We beat the Soviets without firing a shot. Now globalism is being used as a weapon against the West. So on the whole, it's become a negative.

 

[Bodi]

It is companies task to maximise their profits and create wealth. It is for governments to levy taxes at appropriate levels and for unions to negotiate fair wages and service conditions. Both governments and unions must understand that companies must be profitable if they are to survive.

Not at the expense of the people...

 

[Sweden]

Not at the expense of the people...

The people benefit from companies. They provide jobs, create wealth and pay taxes.

 

[Bodi]

The people benefit from companies. They provide jobs, create wealth and pay taxes.

Some people benefit from companies... many people are hurt or ****ed over by companies.

 

[Econ4every1]

Corporate greed is one of the biggest threats to America’s future.

A handful of wealthy people out competing everyone else for resources will be the downfall of America.

 

[Econ4every1]

The people benefit from companies.

Benefit is doing a lot of heavy lifting here. If you were on fire, you would benefit from a person peeing on you. The value of the benefit really depends on the context in which that benefit is provided.

They provide jobs

I don't want a job. No one wants a job, they want what a job can provide. As we see the cost of providing for oneself increasing, the value of a "job" decreases even if the necessity of the job increases. Jobs are a necessity, but they are merely a means to an end.

create wealth and pay taxes.

Create wealth for whom?

In 1980 the bottom 80% of Americans controlled 11% of the nations wealth. Last time I looked it was 2.4%. That same year the effective corporate tax rate was 20%, today it's 13%.