I never understood the controversy of "profits." Everyone HAS to profit! If you make 2 grand a month, and spend 1800, you have $200 in profits to save for the future. If you have the unfortunate position of not being able to save, you will eventually become insolvent. The only reason why people have problems with profits, is because they are not talking about their own profits!
Yaoi6Kazowy ::: Are you admitting to an intellectual "black hole" in your brain or what? What part of reallocation of assets don't you understand? Go back to third grade and start over. Maybe you should try owning a business for some real life lessons. Good luck.
He is explaining why profits are ESSENTIAL to proper allocation of resources. Profits provide the necessary incentive for consumer demands to met efficiently. Socialists tend to think things would be produced at better price without profits. But without profits, there would be no incentive to be efficient at all. We find this in virtually every bureaucracy. Moreover, when the state dictates allocation of resources, you must factor in the cost of a cumbersome bureaucracy. CAPITALISM IS KING
Basic micro consumer / producer surplus: entrepreneurs have an incentive to make any change whose value to the customer is higher than the cost to do it, since he pockets the difference. As competition kicks in, price is bid down to cost.
Profit is the reward of the entrepreneurs for the risk they put up in their business
diogotomediogo 2 months ago in playlist Mais vídeos de LibertyPen
@dudemanbearpig and he is Dr. J's cousin to boot
The442nd 10 months ago
why does every fucking video with a black man the first thing they do is point at he's black
dangrbitch 1 year ago
Why can't Mr. Williams be our president?
7Highlander 1 year ago 2
I have listen to many of His great speeches, and I have learned a lot...
bjarnet3 1 year ago
I never understood the controversy of "profits." Everyone HAS to profit! If you make 2 grand a month, and spend 1800, you have $200 in profits to save for the future. If you have the unfortunate position of not being able to save, you will eventually become insolvent. The only reason why people have problems with profits, is because they are not talking about their own profits!
Gyrode 1 year ago 5
Yaoi6Kazowy ::: Are you admitting to an intellectual "black hole" in your brain or what? What part of reallocation of assets don't you understand? Go back to third grade and start over. Maybe you should try owning a business for some real life lessons. Good luck.
nalejbank 2 years ago
This man is absolutely BRILLIANT! I LOVE when he sits in for Rush. I wish I had the ability to take one of his classes.
Drhouse1961 2 years ago 5
I'm failing to grasp the gist of what he is talking about. Like, the point he is trying to make...
Yaoi6Kazowy 2 years ago
He is explaining why profits are ESSENTIAL to proper allocation of resources. Profits provide the necessary incentive for consumer demands to met efficiently. Socialists tend to think things would be produced at better price without profits. But without profits, there would be no incentive to be efficient at all. We find this in virtually every bureaucracy. Moreover, when the state dictates allocation of resources, you must factor in the cost of a cumbersome bureaucracy. CAPITALISM IS KING
fzqlcs 2 years ago 7
fzqlcs: great summation of the function of profits.
ensignbay 2 years ago
Dr. Williams should have been the first black president.
gdbalck 2 years ago 12
Brilliant man. Too bad Barry Soetoro does not have his brain and common sense.
nuktubian 2 years ago 4
Brilliant man Dr. Williams is.....
DesertLaser 2 years ago 6
Brilliant as always.
lizardman77 2 years ago 6
Basic micro consumer / producer surplus: entrepreneurs have an incentive to make any change whose value to the customer is higher than the cost to do it, since he pockets the difference. As competition kicks in, price is bid down to cost.
picapauengracado 2 years ago 3
I just gotta say
I look forward to the rumbling flag
this new intro you have
just doesn't do it for me
(holds up picket sign)
bring back the rumble
Shadizar666 2 years ago
Walter is the man! We could use a man like him in the cabinet, he could do geithner's job properly!
Federalist306 2 years ago 5
he's smart, but i have his final exam this thursday at 730am and i am freaking out! haha
GMU what!
ruthieboboothie8 2 years ago
Williams for Pres!
drkangravewing 2 years ago 13
Williams would be a black president we could be proud of.
dudemanbearpig 2 years ago 39
i totally agree with u, the problem is most Presidents failed economics or got a C. So Williams wouldnt be elected based on that.
Soopafly5838 2 years ago 4
I'm totally for this. Here's hoping 2012!
Offatwork 2 years ago 2
Great video. Walter Williams, another beacon of freedom
Elasaltaculos 2 years ago 27
brilliant man
LeGioNoFZioN 2 years ago 15