A possible flaw of Objectivism?
Posted 18 December 2011 - 08:07 PM
Posted 18 December 2011 - 10:31 PM
When your employees can't employ you anymore because of mismanagement it sucks, but it isn't wrong.
This really doesn't have anything to do with macroeconomics though.
Posted 18 December 2011 - 10:37 PM
Posted 19 December 2011 - 04:30 AM
Are you talking about the $500 billion that government spent on Solydra, the failed solar-energy company ? The point is: if you think rich businessmen can make mistakes, then you should see what governments can do. For instance, governments can subsidize an entire housing market across a country, pushing prices up and causing a spiral of asset-price rises that ends badly for the whole country, and reverberates around the world.
An example here is if you have a billion dollars, throw 500 million into a failed business endeavor
Or, if we're talking about a hypothetical, what of a rich altruistic businessman who decides to give away his billions and people start to rely on him for their sustenance and then his money dries up, leaving them destitute. You see the flaw here? Those guys who were sucking at his teat are responsible for their own fate.
There's an important lesson for individual employees: you must be aware of what your company does and what its prospects are. No, you do not need to be an expert, but you must have a basic sense of awareness. This is not far-fetched: rather, it is routine. Twice in my career I have worked for a company that was running into trouble. In both cases, employees saw the writing on the wall well before the end. If anything, employees seemed to be more nervous and pessimistic about the company's prospects than was warranted. Also, in both cases, most employees did not drop everything and leave. They looked for other jobs pretty deliberately and without much desperation and fled the sinking ship in a trickle.
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