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View Diary: "Competitiveness," Just Another Word For Nothing Left To Lose (288 comments)

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  •  Like GM (10+ / 0-)

    By chasing short term profits rather than building a sustainable business building cars, GM became increasingly uncompetitive in building and selling cars.  To keep margins up, the expanded their financing business from cars to anything--mortgages for example.

    When a business is about making the next quarter's Wall St. # rather than building a sustainable business, it has entered the 'pump and dump' stage.

    That describes the overwhelming majority of US businesses.  Our future is clear.  Our future is not pretty.

    Capitalism isn't good because it's not communism.  Capitalism WAS good because it was the best way to improve the economic lives of all citizens.  For at least the last 30 years, the current form of capitalism has failed that test.

    Restoring our economic system to one that can sustain and improve the lives of the people is relatively straightforward.  End the practice of rewarding executives with short term share gains.  Extend the window to at least 10 years and we'd be back on a good footing.

    Any sociopath can pump the value of a stock in the short term--and in doing so wreck a company and in aggregate, wrecking a nation.

    What do we want?  Compensation drives behavior.  Control corporate compensation and you control our economy.

    We kidnap. We torture. It's our policy. Embrace it or end it!

    by Mosquito Pilot on Sun Jan 23, 2011 at 06:38:29 AM PST

    [ Parent ]

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