Authored by Charles Hugh Smith via OfTwoMinds blog,
Corporate America took advantage of the Covid shortages and fiscal largesse to profiteer on a scale criminals could only dream of.
One of humanity's most pernicious traits is the ease with which we habituate to conditions over time that we would have rejected out of hand if the transition had been sudden.
Which brings us to the terminal rot in Corporate America, a rot so deep and pervasive that few recall that Corporate America once had some purpose other than increasing profits next quarter to boost "shareholder value."
means available.
Correspondent Bruce H. neatly summarized the decay of "the business class":
"This is the culture that created the McNamara fallacy (also known as the quantitative fallacy), named for Robert McNamara, the US Secretary of Defense from 1961 to 1968, that one can make policy decisions based solely on quantitative observations (or metrics) and ignoring all others