“The unspoken ideology of capitalism didn’t admit, back then, of any corporate duty beyond making a return on investment for the shareholders while obeying the law.
Then the terrible teens hit, with a global recession followed by a stuttering shock wave of corporate scandals as rock-ribbed enterprises were exposed as hollow husks run by conscience-free predators who were even less community-minded and altruistic than gangsters. The ravenous supermarket chains had gutted the entire logistic and retail sector, replacing high-street banks and post offices as well as food stores and gas stations, recklessly destroying community infrastructure; manufacturers had outsourced production to the cheapest overseas bidders, hollowing out the middle-class incomes on which consumer capitalism depended: The prison-industrial complex, higher education, and private medical sectors were intent on milking a public purse that no longer had a solid tax base with which to pay. Maximizing short-term profit worked brilliantly for sociopathic executives looking to climb the promotion ladder—but as a long-term strategy for stability, a spiraling Gini coefficient left a lot to be desired.”

Source: Rule 34 (2011), Chapter 7, “Liz: Black Swans” (pp. 82-83)

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Charles Stross211

British science fiction writer and blogger 1964

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