Well, the alternative to CEOs making these decisions that they are made by politicians and bureaucrats. They are equally capable lying to people and hiding facts out of self interest. I think we could all name a few.
There is no magical alternative economic system that gives people ethics and takes away self interest. What you need are strong institutions that provide checks on corruption and malfeasance. Institution such as investigative reporting, good regulations, and independent agencies enforcing those regulations. You need these regardless of if the means of production are publicly or privately owned, regardless of if your prices are set by the free market or by bureaucrats (or by software someday).
> It's easier to regulate behavior when you don't reward executives and businesses who use immoral behavior to increase profits.
Sure, but allowing consumer choice in a free market allows checks on corporate malfeasance that are hard to replicate with regulations. Free markets and regulations can work together better than either on their own. (Or they can work against each other when poorly implemented)
There are certainly problems with how our free market is structured to incentivize short terms profits for share holders over the longer term health of the company. We could do a much better job with regulatory capture and giving executives of major corporations actual jail sentences.
There is no magical alternative economic system that gives people ethics and takes away self interest. What you need are strong institutions that provide checks on corruption and malfeasance. Institution such as investigative reporting, good regulations, and independent agencies enforcing those regulations. You need these regardless of if the means of production are publicly or privately owned, regardless of if your prices are set by the free market or by bureaucrats (or by software someday).
> It's easier to regulate behavior when you don't reward executives and businesses who use immoral behavior to increase profits.
Sure, but allowing consumer choice in a free market allows checks on corporate malfeasance that are hard to replicate with regulations. Free markets and regulations can work together better than either on their own. (Or they can work against each other when poorly implemented)
There are certainly problems with how our free market is structured to incentivize short terms profits for share holders over the longer term health of the company. We could do a much better job with regulatory capture and giving executives of major corporations actual jail sentences.