Clifton L Ganus Jr - The Virtue Of Profits

The function of profits is explained in this 1955 film. http://www.LibertyPen

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[mbarkhau]

Depicting "national income" as a pie is already playing into the hands of the socialists. It implies that there is some ominous national owner of the system who can divided it up. The fact is, that wealth is constantly created and grown and every intervention will destroy some of it.

[kmelfina]

@bungerman1000 Let me guess, you think Nike just barged into China with a factory thus forcing people to work for it along with child labor in horrible conditions earning nothing more than $0.05 a day. In actuality, the Chinese government asked Nike to produce new products in order to learn the trade. Does not having a job for chinese workers to starve make their lives better? Besides those are jobs (shoes/ipod production) no American would go for in the long run.

[RoyalAnarchist]

Yaaaay Arkansas and Libertarians at the same time!

[jordheck]

@bungerman1000 While I sympathise for the workers in communist China, you must admit that when there aren't competing firms that compete for the same labour pool the conditions do not improve. Such is the situation in China where government has a large role in industries. I direct you to this video on American wages...

"Are the poor getting poorer? Learn Liberty" (youtube search it)

Message my account what your thoughts are...

[MrFreeLibertarian]

Our country was founded on the principle that people must create their own wealth. Our society has devolved into one where people (both rich and poor) will simply vote for whichever politician will redistribute money to them. Once this happens, the end of the country as we've known it is very close. Hopefully the majority of voters still believe it is up to them to create their own wealth and will vote for politicians (anyone but Obama) who will uphold this ideal.

[TheBullionBull]

@bungerman1000 Communist China is your example of profits being bad? The irony is pretty thick here. Also keep in mind that you have to compare the situation of Chinese workers today, to the situation under Mao where 30 million people starved to death.

[grraadd]

for marxists even 1 cent of profit would be unacceptable - regardless the consequences... Faith is blind - nothing will undermine it

[killallpathaks]

nowadays in europe, a 100 dollar product, 90% are due taxation!!! taxes over every transaction ( farmer > tax > warehouse > tax > factory > tax > local business > tax > consumer), taxes over every single transformation process, transportation, storage, regulation, and so on! and for what? to pay some lazy fuck to stay at home, to pay the hospital bill of a stupid crackhead, to pay people to go to college just to increase the statistics of national education? fuck that!

[bungerman1000]

@jordheck please read up on the story of foxconn factory in china that just came out. When you have to install nets around the outside of the building to stave off people trying to kill themselves by jumping off, does this really benefit them? There was a reason we had 40 hour work weeks, overtime, & no child labor fights in this country. Because it's inhumane. Please show me any data in the last 40 years that wages have increase even close to the pay for executives. I'll be waiting.

[elharbingero]

@redsox: Country was ~90% white at the time. 89% in '60. Minority population shot up to 20% by '90 and is over 36% now.

[jordheck]

@bungerman1000 I disagree with your statement almost entirely. The process of globalisation is not a form of exploitation. In fact they "vote with the feet", moving from an impoverished lives in the fields to working in factories. Nontheless, this transaction benefits both participants. Thus making your notion of exploitation false. Dividend payments to shareholders are distributed last after all other expenses. Wages have increased alongside living standards. Sorry to disappoint.