TheDemonBuer,
@TheDemonBuer@lemmy.world avatar

What happens when distinctive cultural tradition collides with corporate America?

Corporations have a fiduciary obligation to maximize profit for shareholders. That is the primary reason for their existence. It is not to meet a need, promote well being, or respect cultural traditions, it’s only to maximize profit. If in the pursuit of maximum profits a corporation does end up meeting some need or promoting well being, it is incidental. Popular theory is that the companies that best meet their consumers needs will also be the most profitable, but reality is much more complicated than that and this theory often doesn’t hold up, which is unfortunate because it is the basis for our entire economic system. We have built our entire economic system on the idea that the pursuit of profit should be the highest ideal. I think we can now say conclusively that was a mistake.

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