this post was submitted on 18 Nov 2023
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It's not costing the companies that are causing it anything though because the cost is subsidized by the public.
In Econ there's opportunity cost, I think that's what companies end up losing, the greater profit they could have made (if they were like a bit less short term oriented).
Sure, but that's generally ignored by company owners and investors. All companies try to do is to maximize profit for each quarter, this tends to be the singular metric which is completely at odds with any sort of long term planning.
Yeah fair enough. They're too busy sowing the seeds of their own destruction and can't see the forest for the trees.
And even if they did, in many cases they'd be legally obliged to ignore it in favor of profits this quarter. At least in the US.