> If management sucks and cannot listen to their employees then it’s better that they don’t get more capital/talent and their competitors suck up all their talent.
Except thats not how it works in practice at all.
Companies can run for a long while by brutally exploiting employees if they have captured the market (look at Amazon). They can exploit immigration laws to squeeze the workers. Unions can help prevent that sort of outcomes.
Theres also that little thing where companies dying due to poor decision making is just an overall loss of value for everyone involved in the short term. Why subject society to the vagaries of laissez faire capitalism when we have the tools to prevent that?
