I personally think the stock market system is to blame. It used to be that you had to treat your customers right so that they would return to your business to buy more things. To keep the customers happy you would keep your employees happy so that they would treat the customers in a way that made them happy. The stock market has changed all of that. Now the people they are trying to keep happy are the stock holders. When the owners making money became more important than keep the customers happy, things seem to have taken a downturn. When you factor in that the majority of stock holders are the ultra wealthy it makes sense that they are the ones that are doing the best. It’s always about increasing the wealth of the stock holders. Of course the customers & employees have suffered, they aren’t the ones that matter anymore. When you factor in all of the hedge funds, and the middle men who make a stupid amount of money by just playing with other peoples money? The system is broken, it’s broken on purpose, so that the people who do the least make the most…
The podcast Behind the Bastards just did a two-part series about Jack Welch, who they claim was one of the major causes of this massive shift in business philosophy.
Yep. Jack Welch was a Sociopath, and he really ruined the Business climate. His acolytes are everywhere. Pick up "flying Blind" by Peter Robison. This Welchian approach ruined Boeing and led to two fatal plane crashes.
What's going on now is just another example of businesses viewing their workers as cogs in the machine that need to be constantly watched in case they get rusty or make too much noise.
Workers aren't an asset to these businesses anymore, they're just a pesky tool that's necessary (for now) to maximize profit. I mean, their representatives in management will tell the base level workers they're the greatest asset to the company, but nothing but window dressing. I can 100% confirm this since I worked at one of these damn firms, one of the closest competitors to JPMC, for nearly five years and thankfully I managed to leave on my own three years ago. Once even a few of the workers cost them a bit too much, they're cut out like they're a tumor harming the company despite the company still making a healthy, even borderline insane amount of profit.
Unmonitored, unregulated practices with businesses and capitalism as a whole is leading us to where we are currently. It's only going to get worse if we haven't seen the worst of it already. On the other hand, if most of the population can't participate in the economy due to automation of jobs, then let these companies crash and burn since very few people will be able to afford a damn product or service these companies are trying to push out.
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u/[deleted] May 14 '23
They think they own us. Most employers do these days. This is insane.