General Discussion
In reply to the discussion: Americans are choking on surging fast-food prices. "I can't justify the expense," one customer says [View all]haele
(13,220 posts)Quality of product - pfft. Customer satisfaction - who cares?
But shareholders expect to see a continuing minimum increase in return, so cut as many costs as they legally can and jack those prices up and increase profits until they price themselves out of customers.
Sorry to insult those with business degrees, but Chicago School MBAs will be the death of any sort of viable long term Capitalism.
Their knee-jerk blind avoidance of any whiff of Social considerations, turning of any sort of economy into commodities, and dedication to a "free market" without consequence leads to selfishly monopolistic, winner take all policies despite supposed benefits to consumer and "innovation" a free market is supposed to bring.
Chicago School MBAs love Adam Smith until he starts talking about the importance of regulation and social responsibilities. Like teenages from wealthy families, they're Calvinists at heart; making wealth is an entitlement of the wealthy, who are supposed to be in charge of everything anyway. If one loses or doesn't have wealth, it's because they aren't worthy of having it.
Just my observation.
(Yes, I'm a Keynesian - balance and regulate economies to ensure Capitalism can provide both innovation and social opportunities across an entire economy, not just an aggressive few)
Haele