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Because in the CEO's mind, it creates value for shareholders and is thus a net good for society.

And since we rarely do anything of consequence to dissuade people from thinking like this, it shall continue regardless of the consequences of this delusional thinking.

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Means to…what end is the big question. Unfortunately, this touches on life’s biggest mystery - what is our purpose? Why are we alive? More close to the situation - what is the purpose of a company? Wealth creation for who?

I’ve been joking with friends and family that when there are no jobs and the rich elite are even richer, the only way to make more than universal income would be to invest in stocks and become another “shareholder”.

It would be good for society if the benefits of increased productivity enriched the whole society, but of late that isn't happening very efficiently.

Has it ever?

Food is pretty cheap. Or at least stables are. Same goes for clothing, it might be somewhat worse than it used to be, but it is incredibly cheap.

Lot of stuff is very cheap to buy, so I would say that some efficiency gains do go to consumers.

In the USSR for sure.

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