alt Hacker NewsThat's a type of capitalism. Quakers built plenty of capitalistic entities that were primarily interested in profit but cared more for the long term with more of an eye on social and spiritual purpose. Extractive capitalism doesn't get to pretend its all of capitalism, we just assume that because its been active throughout our entire lifespan.
US hegemony has permitted and encouraged shareholder primacy, hostile takeovers and leveraged buyouts in order to facilitate the growth of its markets. However we'd be blinkered to assume that this is the only way capitalism can be. Its a choice we make and we deserve this outcome where we've enslaved a generation of children to be eye-balls for ad impressions for silicon valley startups.
We could make other choices but then we'd be personally less rich and see less growth. Do we really think those extra zeros in very few people's portfolio's are worth this macabre world we've created?
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I judge a system by what it does, not by what it's proponents say it could theoretically do.
Extractive capitalism is real-world capitalism.
> Quakers built plenty of capitalistic entities that were primarily interested in profit but cared more for the long term with more of an eye on social and spiritual purpose.
And those were replaced by profit seeking enterprises, that is capitalism. Sure some try to create such benevolent entities, but the profit seeking ones out-competes and replaces them over time, that is how capitalism works.
So you can temporarily have a nice company here and there, but 50 years later likely it got replaced by a profit seeking one. The only way to get pro social behaviors from these is to make pro social acts the most profitable via regulations, but its still a profit seeking enterprise that doesn't try to be benevolent.