You may realize probably notice corporate America chasing short-term profits. We can see many problems with corporate business practices. Banks fail, oil safety practices are ignored, mines are built with shotty construction, bubbles are created, Madoff, etc. These are characterized by hidden future liabilities hidden by Ponzi schemes until their inevitable collapse.
Businesses have been systematically ignoring future problems. They cut corners to bring in more money, take the profits, and hide the future costs. Next, companies are grown so when the liabilities inevitably show their head, the company has the money to quietly make them go away. Of course, the bigger the company gets the more damage it can do.
This man, Charles Ponzi got famous as a crook.
So, did
Who else is up to the same stuff?
Although, that is just the financiers. They cab lose their investors lots of money. What about companies, who do
Corporations are chasing short-term profits above all else, and creating long-term damage. This is hidden by corporate growth.
Gulf Oil Spill Cost: BP's Profits In Four Days Cover Costs Thus Far
Huffington Post.
Yet, companies can only grow so big.
Even, they are on a planet held up by atlas.
When it gets too big for a company, they go here:
Yet, this can only go so far.
This system is broken. We need an economic system, which will think about long-term costs to our problems. This can be done through large liability for problems, and regulations which prevent damaging behavior in the first place.
This is not a single issue. These are business practices gone awry. These must carefully and consistently addressed.