The problem is how long it takes to correct against stupid managers. Most companies aren’t fully rational, it’s just when you look at long term averages that the various stupidities usually cancel out (unless they bankrupt the company)
Even then it’s not a guarantee. They just get one of their government buddies to declare them two important to the economy (reality is irrelevant here), and get a massive bailout.
The problem is how long it takes to correct against stupid managers. Most companies aren’t fully rational, it’s just when you look at long term averages that the various stupidities usually cancel out (unless they bankrupt the company)
Even then it’s not a guarantee. They just get one of their government buddies to declare them two important to the economy (reality is irrelevant here), and get a massive bailout.