I agree with all except the "necessary" part. It's pure greed and a twisted financial system that rewards a very few at the expense of many.
Case in point is the
NH Demoula's dispute. To summarize, a successful supermarket chain was jointly inherited by two sides of the family, led by two individuals. One went to business school and learned all about current, cut-throat, kill-or-be-killed, screw-the-employee attitudes. The other ran the business, offering fair wages for employees, many of whom worked there for decades, and fair prices for customers, who were also extremely loyal.
Obviously there was a clash of cultures and the board tried to oust the "good guy" and make some changes to bring the chain in line with modern business practices. Spoiler alert: They lost in the end due to uprisings by customers, employees and even management.
By the way, the business was and continues to be wildly successful, making multi-millionaires out of everyone with ownership interest, with loyal customers and employees.
The greed that's baked into our system today, causing an alarming rate of income disparity, is obscene. Using "everyone is doing it" as justification for a total lack of loyalty to customers and employees is wrong.
It IS possible to treat your customers and employees fairly, and still get fabulously wealthy. Anyone who tells you otherwise is lying.