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steve2470

(37,461 posts)

1. when I took finance classes in the 70's....

Reply to applegrove (Original post)

Sat Mar 29, 2014, 10:43 PM

Mar 2014

the dogma of profit maximization was all in vogue. Being young and naive and scared to piss off my professor, I just kept my head down and got my grade.

Profit maximization, of course, implies paying people as little as possible. THIS is why unregulated capitalism is evil.

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Sorry, But There's No 'Law Of Capitalism' That You Have To Pay Employees As Little As Possible [View all] applegrove Mar 2014 OP

when I took finance classes in the 70's.... steve2470 Mar 2014 #1

This. Jamaal510 Mar 2014 #2

I think to characterize capitalism as evil reveals part of our economic problem. rhett o rick Mar 2014 #6

Agreed. It's anthropomorphizing capitalism to describe it as "greedy".... socialist_n_TN Mar 2014 #11

"Anthropomorphizing", that says it. Thanks. nm rhett o rick Mar 2014 #15

There is if you wish to maximize profits. Starry Messenger Mar 2014 #3

Indeed, its the law of "If I don't do it, somebody else will" cprise Mar 2014 #4

He's wrong. Sadly, capitalism *does* drive wages to their lowest possible level - it's messed up. reformist2 Mar 2014 #5

Actually there is such a law of capitalism...... socialist_n_TN Mar 2014 #7

True, but for some reason capitalists don't count costs to... polichick Mar 2014 #9

No, because it's an undefined/unquantifiable cost and not on the books....... socialist_n_TN Mar 2014 #10

Which is a big reason capitalism sucks! polichick Mar 2014 #12

Which is why I'm a commie...... socialist_n_TN Mar 2014 #13

Me too - commie, another word for SANE. :) polichick Mar 2014 #14

I think so Comrade polichick........ socialist_n_TN Mar 2014 #18

You find that law in the Bible of Greed madokie Mar 2014 #8

It's the job of governments and unions to look out for the interests of workers. lumberjack_jeff Mar 2014 #16

I think the problem is that no one has demonstrably shown... Shandris Mar 2014 #17