With every transaction there are always 2 sellers and 2 buyers. Usually one of the sides sells money, but sales might be in a form, where neither side sells money. According to Robert James Shiller, in 1969 the Kenneth Ewart Boulding offered the following definition: "Economics is the study of exchange."
What Earns the "business people" the bad Reputation
The Chief Executive Officers (CEO-s) usually earn a bad reputation by being dishonest and by being psychopaths. No level of education makes the psychopaths treat other people well. Education only advances the psychopaths to be slicker crooks and better liars. The non-CEO types, who earn a bad reputation while actually owning the business that they are running, tend to earn their bad reputation by being the idiots at the Warren Buffet's triple-I series of Innovators-Imitators-Idiots. A citation (archival copy) that talks about the 2008 financial meltdown:
- Charlie Rose asked the question that scholars, pundits, and plaintiffs attorneys will be debating for years: “Should wise people have known better?” Of course they should have, Buffet replied, but there’s a “natural progression” to how good new ideas go badly wrong. He called this progression the “three Is.”
- First come the innovators, who see opportunities that others don’t and champion new ideas that create genuine value. Then come the imitators, who copy what the innovators have done. Sometimes they improve on the original idea, often they tarnish it. Last come the idiots, whose avarice undermines the very innovations they are trying to exploit.
A talk by the Dave Thomas, where he describes the idiots, who created "agile" software development companies.
What Makes Tyrants and Psychopaths to Adopt new Technology
Tyrants and Psychopaths adopt new technology only, when the trove of slaves, servants and canon fodder is not able offer the qualitative result that they prefer to have. For example, a simplistic sword is cheaper to manufacture than a proper sword or a gun, but to win a battle the Tyrants and Psychopaths are still willing to invest in guns.