Right, people miss this but its literally one of the basic ideas of capitalist production. Mom and Pop might be nice people but the market WILL destroy them if they don’t participate in the most cutthroat practices to stay competitive. Forces are at play that supercede the morality of any actor.
I think there’s more to it (ex: costco) where long term success tend to rely on creating stable lives for workers.
But yeah the short term march of every ceo incentive package is definitely reflected in this (though real competition seems rare these days, but I guess perceptions matter)
It’s basic game theory and a race to the bottom. They either come together to set a bottom, do it by threat of violence or by law.
Right, people miss this but its literally one of the basic ideas of capitalist production. Mom and Pop might be nice people but the market WILL destroy them if they don’t participate in the most cutthroat practices to stay competitive. Forces are at play that supercede the morality of any actor.
Mom and Pop better hire some 7 year Olds ASAP.
*myths
I think there’s more to it (ex: costco) where long term success tend to rely on creating stable lives for workers.
But yeah the short term march of every ceo incentive package is definitely reflected in this (though real competition seems rare these days, but I guess perceptions matter)