alt Hacker News>pursuing quarterly profits and forgetting to look up
"Forgetting to look up" implies a desire or intent to do so. The United States - former leader of the collective West - made the choice decades ago to sacrifice everything on the altar of quarterly profits. All that remains are the consequences of that decision.
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When did this whole quarterly profits thing start and what lead to it?
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I would just be careful to discount the capitalist West. You’d have to be blind to ignore the massive overbuilding of property in China, which they are now demolishing. All of that wasted capital. Authoritarian regimes with controlled media always seem successful… until it doesn’t. Up until the USSR collapsed there were many prominent people in the West saying it was the superior system. The market test - meaning floating prices and the response to them - is a superior way of allocating capital. We need to see how all of this plays out
This is slightly reductionist. If consumers _actually_ cared about quality or US-made over price this wouldn't have been possible.