this post was submitted on 07 Mar 2024
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This whole LWT segment is a perfect illustration of the transition to late-stage capitalism at the microeconomic level, featuring examples of shareholder primacy, regulatory capture, communication breakdown, and recursive subcontracting. If I was teaching junior college microeconomics (Economics 1B), I'd consider showing this in class or recommending it to my students for viewing.
It really is a good schoolbook example of how a large reputable company goes to shit from the common ailments of real-world capitalism.