Jim Hlavac
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Economic Theory
| Economic Theory |
Profit has a bad reputation. They are often considered unseemly. Or
obscene. Or unfair. All of these are then cited as the reason for
government action.
However profit is within each and every human transaction. Even
emotional transactions have profit. The profit is defined differently,
but profit it is. No one does anything without wanting to get more
than they put into it. That "more" is profit.
Even a state owned enterprise must bring in more than it puts out
-- it must "profit." Because the natural increase in the population,
coupled the human desire to always have more for less, requires that
more things be produced. Without excess from one endeavor it would
be impossible to continue on to new endeavors, or the same endeavor
larger. To create clothes for one million people today, when you only
made clothes for half a million yesterday requires that you some how
have more materials and people, and thus you had to have "profit"
from yesterday's efforts for tomorrow's.
You can no more be against "profit" than you are against the sun.
Every action a person takes he takes with profit of some kind in mind.
It is inescapable. Even bathing every day has the "profit" of a generally
better condition of health. Brushing your teeth has the "profit" of
cleaner teeth. Helping the poor has the "profit" of good feelings and
good will, and a sense of satisfaction. Mother Theresa "profited" from
her good works by her own definition of "profit." She believed she was
profiting, or she would have done some other thing.
It is impossible to obtain profit without allowing others to profit.
Because profit only comes about from exchange. Exchanges have as a
primary condition that each participant perceives that he is obtaining a
profit in the trade. Thus since a government corporation makes trades
it must be profiting. The only question becomes who gets to control
those profits? Who gets to use the profits? Someone must always
decide how to use the profits because the profit must exist.
obscene. Or unfair. All of these are then cited as the reason for
government action.
However profit is within each and every human transaction. Even
emotional transactions have profit. The profit is defined differently,
but profit it is. No one does anything without wanting to get more
than they put into it. That "more" is profit.
Even a state owned enterprise must bring in more than it puts out
-- it must "profit." Because the natural increase in the population,
coupled the human desire to always have more for less, requires that
more things be produced. Without excess from one endeavor it would
be impossible to continue on to new endeavors, or the same endeavor
larger. To create clothes for one million people today, when you only
made clothes for half a million yesterday requires that you some how
have more materials and people, and thus you had to have "profit"
from yesterday's efforts for tomorrow's.
You can no more be against "profit" than you are against the sun.
Every action a person takes he takes with profit of some kind in mind.
It is inescapable. Even bathing every day has the "profit" of a generally
better condition of health. Brushing your teeth has the "profit" of
cleaner teeth. Helping the poor has the "profit" of good feelings and
good will, and a sense of satisfaction. Mother Theresa "profited" from
her good works by her own definition of "profit." She believed she was
profiting, or she would have done some other thing.
It is impossible to obtain profit without allowing others to profit.
Because profit only comes about from exchange. Exchanges have as a
primary condition that each participant perceives that he is obtaining a
profit in the trade. Thus since a government corporation makes trades
it must be profiting. The only question becomes who gets to control
those profits? Who gets to use the profits? Someone must always
decide how to use the profits because the profit must exist.