abuse of broader society (current and future generations) by narrow interests is now the norm. it is very seldom that there is something in the news that is uplifting and illustrative of a system that is actually working to increase broad-based welfare as opposed to opportunistically benefiting the shrewdest or most ruthless operators.
the way things have been organized economically and politically (especially under US late-state capitalism) once a business does well financially it can basically capture its political/regulatory context and control its own destiny by influencing all decisions that affect it. it is no longer a Milton Friedman style rule taker, it is a rule maker.
there are many channels that enable this, both on the incentive side that create the desires to act in such ways and the response side (regulation, laws) that define the corporate interface with society (e.g lack of liability for any externalities created, oligopoly status ("there is no alternative") or revolving door arrangements with regulators and politicians (people shamelessly cashing-in on relations and knowledge)
nothing intrinsically difficult to solve to get to a better place. it does not take a "revolution" to fix democratic, market based, economies. it "only" requires having a moral compass and the transparency and awareness that helps navigating according to its prescriptions. the rest would take care of itself. exorbitant profits, environmental destruction, astronomical wealth inequality etc. are not required for the system to work. they are the result of system that is degenerating in the hands of a particular set of people
the way things have been organized economically and politically (especially under US late-state capitalism) once a business does well financially it can basically capture its political/regulatory context and control its own destiny by influencing all decisions that affect it. it is no longer a Milton Friedman style rule taker, it is a rule maker.
there are many channels that enable this, both on the incentive side that create the desires to act in such ways and the response side (regulation, laws) that define the corporate interface with society (e.g lack of liability for any externalities created, oligopoly status ("there is no alternative") or revolving door arrangements with regulators and politicians (people shamelessly cashing-in on relations and knowledge)
nothing intrinsically difficult to solve to get to a better place. it does not take a "revolution" to fix democratic, market based, economies. it "only" requires having a moral compass and the transparency and awareness that helps navigating according to its prescriptions. the rest would take care of itself. exorbitant profits, environmental destruction, astronomical wealth inequality etc. are not required for the system to work. they are the result of system that is degenerating in the hands of a particular set of people