+ -
tanya tussing
tanya tussing  ·  2 months ago
@pluralistic "For example, if you're asking about whether people should have the "freedom" to enter into contracts, it might be useful to ask yourself how desperate your "free" subject might be, and whether the entity on the other side of that contract is very powerful. Otherwise you'll get "free contracts" like "I'll sell you my kidneys if you promise to evacuate my kid from the path of this wildfire.""

#PoliEcon#Economics

+ -
tanya tussing
tanya tussing  ·  2 months ago
I hadn't thought about this point, its effect on our economic big picture...

Could be one of the biggest problems in our economic disfunction, @pluralistic . @nminow , thoughts?

"Friedman treated all the qualitative questions about the duty of a company as noise and edited them out of the equation, leaving behind a single, elegant formulation: "a manager is doing their job if they are trying to make as much money as possible for their shareholders.""

#PoliEcon #economics#MiltonFriedman

tanya tussing
tanya tussing  ·  2 months ago
"Slowly and piecemeal at first, but bit by bit, the idea that rapacious greed was a legal obligation turned into an edifice of legal precedent. Business schools taught it, movies were made about it, and even critics absorbed the message, insisting that we needed to "repeal the law" that said that corporations had to elevate profit over all other consideration (not realizing that no such law existed)."