this post was submitted on 26 Nov 2023
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Maybe it's more about the legal requirement for infinite profit due to being publicly traded. This has led to such fun things like, rising costs, planned obsolescence, the general enshitification of everything.
The laws says (indirectly) that management must work towards profit. It doesn't specify long term or short term profit, though, and in many cases investors show up specifically for slow but steady returns. There's plenty wrong with capitalism, but it's not pure nonsense. If it was, it'd be really easy to get rid of.