Azelma wrote:
I'm looking for you to explain when it is, and is not okay for a company to make a profit.
Quote:
Fantastique wrote:
He said honest
Yuratuhl wrote:
When they produce luxury items in a highly competitive market full of alternatives
It only stops being okay when things like phone companies (totally uncompetitive, life-and-business necessity with maximum of two alternatives) do it.
Azelma wrote:
I feel like in the past from reading what you've written you've been very against some companies/people making profits on their investments.
Most so-called "profit" does not involve investment. Corporate raiding, exploitation of people, natural resources, existing infrastructure and public programs is not "investment" whether or not money changes hands.
"Investment" means growing capital. Capital means tangible assets, not the cash that represents assets. Buying a company for $1B just to run it into the ground and cash out for twice the cost of acquisition is not "investment". Earning a billion bucks exploiting Chinese peasants, fouling up Nigeria, or screwing with the American economy is not "investment".
Azelma wrote:
What exactly needs to happen for a company to make a profit "honestly"?
Create safe and reliable products that people want and need, and market them in good faith.
Azelma wrote:
Tuhl gave an example, do you have more to clarify the distinction?
What industries is it okay to be profitable in, and what industries is it not okay to be profitable in?
1. Does it provide a service people want and/or need?
2. Is it safe and reliable?
3. Is the product offered in good faith?
4. Is it economically and environmentally sustainable?
5. Is it without social, moral, environmental or other externalities?
6. Does it not result in a dangerous accumulation of non-accountable power by private interests?
7. Is the product reasonably available to everyone who needs it to be a participant in mainstream society?
8. Is the wealth derived from the product the result of the energy and creativity of the founders, and not natural or public resources?
9. Is the world better off with it on the market?
Azelma wrote:
Do you have a specific % of profit that is acceptable for a company to make? For example, if a company has a 50% profit margin, is that okay? Is 20% better? What if it were 70%
No. I don't buy the Quaker notion of "fair value".
Are my answers satisfactory? If not, why?
If so, what flaw do you see in my overall philosophy?
If none, then what is your reason for disagreeing?