Why should our well-being be determined by profit margins? – Star Barrière Journal

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Why should our well-being be determined by profit margins?

For the publisher;

A common but questionable refrain prevails among the governments of capitalist nations and the business community: Best business practices, including what is best for consumers, are best decided by business decision makers.

This was recently proven wrong, with Facebook prioritizing expanding its already huge profit margin over the health of its young users.

This turned out to be wrong when long-term care homes put maximization of profits ahead of the well-being of their residents, a negligence that has resulted in needlessly many deaths from COVID-19.

And most of all proved wrong when the pharmaceutical industry knowingly pushed its new, highly addictive opiate pain reliever.

The Western mindset of business and, by extension, the collective society allows the well-being of human beings to be determined by measures of corporate profit margins. And most of our governments dare not intervene, perhaps because they fear being labeled anti-business by our greedy culture of capitalism.

Unfortunately, maximizing profits by risking the health or lives of consumers of products will likely always be an important part of the great beast of business nature. But that doesn’t mean we have to give in to it. On the contrary, it should be a call to society, and in particular to our elected leaders, that the economy and jobs are primarily there for the people, and not for the benefit of the corporations.

Frank Sterle Jr.

White Rock, BC

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