(2) is what some of think is wrong with the country and capitalism (as it is popularly thought of). Such a belief leaves unresolved the issue of negative externalities. Indeed, the problem with a degradation of workers' rights is one such negative externality.
The capacity of the American worker to vote against their self interest is quite high. Should the trend continue long enough we may find ourselves unwittingly in a rather unpleasant society.
The vast majority of people who are effected by this in a negative fashion do not have the money needed to get their officials to listen.
Putnam especially makes the point that an entire generation of Americans is growing up (I include myself here) treating government and politics as a spectator sport -- the province of party hacks -- rather than something ordinary people do during their off-hours. I'd highly recommend reading both in case you haven't.
It's a meaningless phrase and simply an excuse for acting like a dick.
is profit-maximization a law? because i don't see why for example a company can't be formed for the purpose of "betterment of humanity" and if it earns some profit on the way - great - and if not - it is ok too. As long as shareholders agree to that, ie. buy shares of such a company.
I say month after month because if the company is not turning a profit, someone has to keep the lights on.
If we are talking about Public Companies, yes. Privately owned ones can do whatever they want, but in practice the ones that do'nt care about the bottom line tend to be driven out of the market by those who do.
> because i don't see why for example a company can't be formed for the purpose of "betterment of humanity"
Those are called NGOs.
> If we are talking about Public Companies, yes.
Please cite the relevant law.
http://www.legalmatch.com/law-library/article/corporate-fidu...
(Assuming you accept the sinister premise that industry is behind defending of the IRS)