The pursuit of profit often comes at the expense of social and environmental wellbeing from "summary" of Globalization and Its Discontents by Joseph E. Stiglitz
The relentless pursuit of profit, the driving force behind the modern global economy, frequently leads to negative consequences for society and the environment. In the quest for ever-increasing profits, companies often prioritize short-term gains over long-term sustainability. This shortsighted focus can result in the exploitation of workers, the degradation of natural resources, and the exacerbation of social inequalities. The pressure to maximize profits can lead to a race to the bottom in terms of labor standards and environmental regulations. Companies may seek out locations with weak labor laws and lax environmental protections in order to minimize costs and maximize profits. This can result in sweatshop conditions for workers, pollution of air and waterways, and the destruction of fragile ecosystems. Furthe...
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