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by jollybean
1764 days ago
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He is only making society better if the value he is creating is larger than the value he is extracting. You can build a regular home, get paid $5 million for it, the net act was probably negative for the system. It's the same for companies turning profits: it's entirely possible to make profits in a system while actually shrinking the overall pie. This is common when certain activities are externalized (i.e. pollution). Capitalism, broadly, does create a bigger pie, but it's a very uneven process and the true value creation doesn't always happen where the value is created. Value capture happens where the power is. |
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