"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard for their own interest"
When companies make profit, it doesn't mean we get screwed, nor even that they have a high profit margin. The grocery chain stores are a prime example. They typically make 2-3% net margins on revenue, and provide fresh, clean, reasonably well-tested groceries close to our home for that margin. Imagine trying to get equivalent quality fresh groceries ourselves from the producers, and I'm guessing it would cost at least three times as much.
alt Hacker News
"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard for their own interest"
When companies make profit, it doesn't mean we get screwed, nor even that they have a high profit margin. The grocery chain stores are a prime example. They typically make 2-3% net margins on revenue, and provide fresh, clean, reasonably well-tested groceries close to our home for that margin. Imagine trying to get equivalent quality fresh groceries ourselves from the producers, and I'm guessing it would cost at least three times as much.