how should the world’s economy develop? what companies should be developed? how should the profit be distributed? should it be illegal for companies to make a profit at all?
(note that i think that it is generally unavoidable that some companies make some profit, the grey area on the image of the supply-demand diagram (or rather quantity-price diagram) is the profit, and that would only be zero if all companies have exactly the same production costs per unit.)
BlackRock just makes funds that aggregate other companies. They’re no more evil than the underlying companies. And plenty of their underlying companies are perfectly innocuous. We just take it for granted that all corporations are evil because the evil ones are all we hear about.
That’s both technically correct and incredibly misleading. It sets the boundary conditions that incentivize incredibly harmful behavior.
The point is, we should punish the behavior, and ignore the structure that people keep focusing on.
It’s stupid to fight against the way companies are structured. Unless they do highly regulated work, then we can mandate specifically how they can look like. But it’s stupid to mandate how they can’t be.
Also, people like to point just the second half of it to dishonestly claim we shouldn’t do anything. But dishonest people claiming something doesn’t make it wrong, they are perfectly capable to saying true things too.
You do realize the main aim of incorporation is to shield the officers from liability right?
The structure is how they stay out of jail. How, when we go to freeze assets there’s nothing there. The structure is an integral part of the crime.
Go take another look at what limited liability actually means. Because you don’t seem to have understood the concept.
I definitely did nothing to deserve that tone. Either engage and explain or kindly eff the eff off.
What can I say? The concepts on your comment are wrong, none of it works this way, and even deciding to talk about liability limitation in a criminal context is wrong.
You didn’t understand what it’s about.
What’s misleading? I think it follows pretty clearly from what I said that if you are worried about the ethics of companies you invest in then you shouldn’t invest in broad index funds like BlackRock makes.
I don’t understand what you mean by boundary conditions.