Corporate Greed In The Car Industry

Money, the object of many desires, is a commonly used way to determine people’s place in society. Many make earning money their goal to strive for. This universal currency has become an aspect of what makes us human, and what allows us to be stable in an uncertain future. Though for some that desire for more wealth goes too far, causing what has become known as corporate greed in companies, which has become ever so prominent in society. With there being United Sciences of America in the 1980s, one of the largest pyramid schemes in history (Barrett), De Beers, the largest diamond company in the world, intentionally inflating the value of diamonds (Roberts), and Drug companies increasing the prices of necessary medicines to earn a large profit

Drug companies have been known to make essential medicines either scarce or heavily increased the price of them, via market manipulation in order to earn a higher profit (Ableson). In the car industry, there are many problems, most prominently is car dealerships adding unnecessary extras and extended warranties (Ways). There are mechanics that do unnecessary repairs or outright overcharging for their services (Lehto). De Beers, the largest diamond company in the world has been known to partake in shady business practices in order to maximize profit. With them using illegal mining operations, that have very low health standards(Roberts ix); and in 1908 where they stockpiled 18 months worth of diamonds in order to keep the prices high (Roberts 85). Companies do these so they will earn a larger profit, and they are able to do it because people did not know or did not care. If these companies focused on improving the industry, they would have informed the public and its customers on what they are doing, or make the information easily accessible. While that information is still there, a person has to actively find that information if they ever want to see

The desire for wealth does help grow an industry in companies finding more cost effective ways of production, which could also result in safer working conditions. Companies that seek more money become larger and can lead to new advances in society, since the people who are making the new technologies and discoveries need funding in order to do it (Smith). While this is true, focusing on earning a profit will not lead to any great improvements, and are bound to fail. Whether it be from companies failing to live up to expectations causing shareholders to give up on the company, or people realizing the company’s greedy business practices and no longer support them. For if a company does not help create improvements in the industry, then it does not really have a