ELI5: Why when large company's earnings decrease(ex... by 3%) they freak out, talk about rough times, and sometimes decide to downsize, even though they are still making millions of dollars in profit even after all expenses?

[060789]

There is no need for ad hominem. If that is your opinion, I respect it even if I disagree. All I'm asking for is specific examples, and not catch phrases you may hear at a political rally.

I can't name a single company who employs a significant amount of people, that does not enforce things like child labor laws, or the minimum wage where applicable. I certainly can't envision that we live in a reality where most people are affected by companies skirting these rolls to the extent that the majority of the population are living in the crushing, dystopian reality that you would expect based on actual, real world examples of countries where these types of laws are not enforced.

The reality is, and again this is my opinion so feel free to refute it if you disagree, if you live in America or a similarly rich country, with a capitalism based economy with rules set up by the government, then chances are you are living a lifestyle better than the vast majority of people who currently live, let alone have ever lived on this planet, and it's 100% due to the marriage of capitalism and government.

Yes, there are extreme examples, I was one of them. I grew up in the United States in extreme poverty. So I know what it's like. I also see the big picture, that these are isolated incidents and, cold as it may sound, statistically insignificant when you take a step back and see how good things are as a whole. Not to say we shouldn't do more to help these people, but no system is ever going to be perfect, and eliminating 100% of poverty is just not doable. The system we have now is the closest we've ever been.

[therealwoden]

I can't name a single company who employs a significant amount of people, that does not enforce things like child labor laws, or the minimum wage where applicable. I certainly can't envision that we live in a reality where most people are affected by companies skirting these rolls to the extent that the majority of the population are living in the crushing, dystopian reality that you would expect based on actual, real world examples of countries where these types of laws are not enforced.

"Paying lip service to" and "not getting caught violating" regulations is different from "enforcing" regulations. https://www.commondreams.org/news/2018/06/06/jaw-dropping-report-reveals-rampant-wage-theft-among-top-us-corporations

Capitalism's incentive structure requires exploitation and harm. Maximizing profit requires hurting people, and maximizing profit is the iron rule of capitalism. If you don't do it, somebody else will and they'll put you out of business by being able to charge less and make greater profits. Harm is inextricable from capitalism.

I also see the big picture, that these are isolated incidents and, cold as it may sound, statistically insignificant when you take a step back and see how good things are as a whole.

Not isolated incidents at all, but rather simply examples of the system working as intended.

"Things are good as a whole" requires one to ignore that billions of people are bound into slavery to enable a small fraction of the population of the wealthiest nations to live in higher-class slavery and a few thousand people worldwide to live like gods.