This is, IMO, the critical line, and also one of the deepest problems in the world (and especially America).
A focus on profit is so frequently completely opposed to human wellbeing and a flourishing society. Just look at health insurance companies for a prime example: they make profit by denying claims. The result is a catastrophically expensive insurance bureaucracy and worse health outcomes. Not to mention the extreme stress any American feels when interacting with an insurance company over any meaningful amount of money. (Which I’ve experienced, and I have far better coverage than the average American.)
These companies are so clearly, obviously bad for human flourishing. But profit is great!
The incentives are so deeply messed up. Our economy only allows profit as an incentive, which works well when aligned with human wellbeing-being. But as the economy grows, companies consolidate, and profit growth is still expected, nearly every single sector looks for ways to cut costs. And with fewer competitors, it’s easier and easier for entrenched, powerful companies to raise prices and reduce quality with little consequence.
This is clearly bad for human flourishing. But profits are fantastic!
Just because profit is actually aligned with human flourishing in a couple sectors doesn’t mean the system as a whole will continue scaling effectively. It’s clearly not, and it must change to avoid completely suffocating us.