And even if they aren’t they’re the product of a system seemingly designed to perfectly produce the tragedy of the commons every time. Through a mutual fund I own a small portion of several companies, I don’t get to vote in any of their boards, all it is to me is a financial vehicle. Because of that my mutual funds are always going to prioritize those companies maximizing value in the short term as that’s what stock price is. While in a coop or a privately held business the people in charge may decide to take less profit now in the hopes of 10+ years from now having more profit or maintaining a stable business environment, when all a company is to its mass of owners is a financial vehicle that can be traded easily they don’t care if it’s Exxon or Apple, either is just a number.
And even if they aren’t they’re the product of a system seemingly designed to perfectly produce the tragedy of the commons every time. Through a mutual fund I own a small portion of several companies, I don’t get to vote in any of their boards, all it is to me is a financial vehicle. Because of that my mutual funds are always going to prioritize those companies maximizing value in the short term as that’s what stock price is. While in a coop or a privately held business the people in charge may decide to take less profit now in the hopes of 10+ years from now having more profit or maintaining a stable business environment, when all a company is to its mass of owners is a financial vehicle that can be traded easily they don’t care if it’s Exxon or Apple, either is just a number.