alt Hacker NewsPerceiving corpos as "simple profit seeking entities" is some of the most naive Milton Friedman crap. Corporations operate as an amalgamation of the desires of a group of powerful enough influencers, of which your rank and file investor is NOT making a meaningful contribution. Milton Friedman has done more harm to capitalism than Marx has done to socialism.
Friedman abstracted away feedback loops between corpos and the social/regulatory environment they operate in. We agree that that is beyond fucking useless.
I didn’t make that same naive assumption when describing corpos as simple profit seeking entities, you just misunderstood what I was saying.