Sunday, May 12, 2019

Big Business: A Love Letter to an American Anti-Hero

Big Business is often derided as one of the sources of problems in American society. Small business tends to be more greatly respected. However, big business provides higher paying jobs, more diversity, and generally more benefit to society. Even large CEO pay packages are not out of line when compared to the increased responsibilities of CEOs. The size of large businesses is usually a result of the will of the people. Companies like Google produce something that people want and grow to produce more of it. Amazon sells things at low prices, generating more happy customers and more sales. Government regulation also contributes to sizes of companies. Cell phone carriers need to be large to cover the country and purchase spectrum from the government. Companies in highly regulated industries need to be large in order to justify the expenses of the regulation. It is the regulation that creates the monopoly. Companies that manage to create monopolies on their own without benefiting consumers are extremely rare.
People tend to treat big businesses as other "people". They also use anecdotal strategies to attack large companies. They are run by people. People make mistakes. It is human nature to amplify the 1 mistake at the expense of the 1000 good things that were done. Thus, the few bad actors tend to unjustly malign big business. There are problems with big businesses. However, the capitalist system does a good job of weeding out the bad actors. (Protective regulations tend to make things worse, allowing dinosaurs to remain around longer than they should.) Maybe we should give businesses a little more respect.

No comments:

Post a Comment