This is exactly what I came to say - growth as the primary goal DOES create innovation, until innovation in that field yields diminishing returns or bottoms out completely, then it creates shittier and shittier product.
The entire American version of capitalism is built around growth as the primary goal, which did great things, but now (unequally, some sectors are still innovating) is creating more and more shitty things.
It's so hard for anyone to acknowledge this because everyone wants to take a "side", pro- or anti-capitalism, without being realistic that there are different implementations of capitalism and there is no system that universally works, it really depends on the situation. Right now we need to make "lifestyle company" not a bad word in investment circles, focus on dividends/revenue sharing over stock growth, create incentives around steady, well run companies, and not companies that outspend and destroy competition and then make their product shittier and/or more expensive.
The entire American version of capitalism is built around growth as the primary goal, which did great things, but now (unequally, some sectors are still innovating) is creating more and more shitty things.
It's so hard for anyone to acknowledge this because everyone wants to take a "side", pro- or anti-capitalism, without being realistic that there are different implementations of capitalism and there is no system that universally works, it really depends on the situation. Right now we need to make "lifestyle company" not a bad word in investment circles, focus on dividends/revenue sharing over stock growth, create incentives around steady, well run companies, and not companies that outspend and destroy competition and then make their product shittier and/or more expensive.