<story><title>NY Sabotages Right to Repair Bill [video]</title><url>https://www.youtube.com/watch?v=7xGBB-717AI</url></story><parent_chain><item><author>college_physics</author><text>Every such event reminds me of that celebrated fraud of an academic who argued that corporations exist to maximize profit within the applicable legal framework and that it is how things should be.&lt;p&gt;The fact that corporate entities actively shape the legal framework to suit narrow interests that frequently undermine collective welfware somehow escaped him.&lt;p&gt;When intellectual dishonesty and amoral behavior reach such systemic levels society crosses boiling points</text></item></parent_chain><comment><author>butlerm</author><text>There are many types of corporations beyond those organized for profit. Non-profit corporations typically have different governance structures.  Both types are restricted to pursue the aims and purposes described in their articles of incorporation.  Labor unions are a good example of a non-profit corporation for example, as are credit unions, and most charitable organizations.&lt;p&gt;Friedman&amp;#x27;s point is not so easily dispensed with by calling him names. He is arguing that a corporation that is formed for the purpose of generating profits for its shareholders is most effective when it focuses on that and then the dividends and capital gains generated for the shareholders can more effectively be applied by them to charitable enterprises as they see fit.  That is not an excuse for a corporation to rape and pillage the countryside, break any law, or behave in an objectively unethical manner.&lt;p&gt;It merely means a corporation should pursue the aims for which it was formed and is legally restricted to, and especially not be hijacked to pursue interests that its members or shareholders would not support. The latter is basically a form of theft, although the loss of focus usually takes milder forms.</text></comment>
<story><title>NY Sabotages Right to Repair Bill [video]</title><url>https://www.youtube.com/watch?v=7xGBB-717AI</url></story><parent_chain><item><author>college_physics</author><text>Every such event reminds me of that celebrated fraud of an academic who argued that corporations exist to maximize profit within the applicable legal framework and that it is how things should be.&lt;p&gt;The fact that corporate entities actively shape the legal framework to suit narrow interests that frequently undermine collective welfware somehow escaped him.&lt;p&gt;When intellectual dishonesty and amoral behavior reach such systemic levels society crosses boiling points</text></item></parent_chain><comment><author>adlpz</author><text>Very well said. I believe in the ideals of individual initiative and market economy as means to achieve a better world for everybody, but when externalities and systemic inefficiencies are ignored and frameworks to deal with them are shaped by the same entities that are supposed to be ruled by said frameworks, the whole system corrupts and devolves into a machine that only benefits the few, while keeping the facade of legitimacy, which makes it doubly dangerous.</text></comment>