What if the profit

[Hoyt]

3. Actually, there is no legal requirement for corporations to maximize profits. In fact, that's a

Last edited Sat Dec 21, 2019, 01:59 PM - Edit history (1)

difficult phrase to measure. Is it profits in short-run or profits long-term, etc.

Granted, most corporations do attempt to make a profit. Otherwise most people wouldn't invest in them, they'd donate their money.

Fact is, if corporations weren't making money, they wouldn't be viable long-term and we'd all be scrounging for food in the streets.

Denmark has corporations and billionaires. Fortunately, their government, citizens, and corporations have developed a view that considers society a stakeholder. Some corporations here have that, but not nearly enough.

I went to a very conservative school in the 1960/70s. 55 years ago, business professors talked of "satisfying profits." Far too often, today, that's not the case. But that can be changed.

In any event, we need to increase taxes and hope to heck there are a lot of billionaires and corporations to tax to provide citizens with healthcare, childcare, climate change, education, college loan forgiveness, bolstering Social Security, deficit and national debt reduction, guaranteed income, etc.