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by PartiallyTyped
740 days ago
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> I have a theory that one of the core problems is that American businesses just expect to make too much money. If you pay attention to certain board meetings, earnings calls, and so on, or if you had the opportunity to work for certain companies, you'll find people talking about the growth of growth, i.e. second order. It seems that the notion of sustainable growth is just gone. Corporations chasing lofty goals in absurdly short timeframes. |
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The roman empire's last decades and centuries were marked by huge growth in the latifundium (large plantations owned by a few rich politically connected men) which were powered by cheap slave labor in contrast to the earlier freeholding small farmers who famously formed the backbone of the Roman state by earning their farms in exchange for their ten years or military service, thus achieving the Roman Dream.
Ironically the latifundium, in their quest to maximize growth and profits for the few at all costs, were actually far less productive than the freeholders.
It is disturbing how close an analogy this forms to modern Wall St culture focused on "growth at all costs" and only thinking one quarter ahead at a time