The Power of Profit: Prager University

Did you ever wonder why anything gets anywhere? How potatoes from Idaho, for example, end up in a supermarket in NYC? Acclaimed economist, Walter Williams, explains why it all depends on one thing -- profit.

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  Education

[Horatio Nelson]

Thank you for making these videos Mr. Prager, I am a big fan.

[Pomiferous]

That is just silly, the left hates America.Not the entire globe.

[Terry Rogers]

wow, what a revelation. People work to make money. Someone give this man the Nobel prize.

[IWKAGGP]

Wisdom of the Masters . . . ROTFLMFAO!!!!!!!!! Yeah, the "masters" . . . not Shakespeare, Bach, DaVinci, Edison, Carver, Plato, Aristotle, Socrates, Sun Tzu, Ellington, Fleming, etc, etc. . . . but WALTER E WILLIAMS!!!!!! LOL!!!!!!

[godlordy]

Profit is not a constant required for innovation, risk taking, and decision making. I know that it is sufficicent to get the average person up and working, but not necessary. Expecting all things to be done purely from people's 'love and kindness' is unpracticle, that's why we appeal to people's desires and trade; but you should have mentioned that it is possible to a degree, as philanthropists have done good deeds without expecting a profit in return for their effort throughout time.

[Awbrfg55]

Wonderful! Eloquently spoken and logical. "Love: and "kindness" won't do anything for mankind. Profits and self interest, although it seems counter-intuitive, actually make life better.

[MusicTeacherGuy]

God bless Walter E. Williams!

[Pomiferous]

Conflict and resentment are behind most political methods.It's a shame educators play the same game for the most part.

[MaxxTheMerciless]

Correct. Can't dispute that. And I'd go further to say that no govt. bureau is there to actually solve a problem. So long as the problem exists in some fashion, they have a reason to exist. If a bureaucrat says, "I have nobody on my welfare rolls," it's bye-bye job. Failure and mediocrity behooves the bureaucrat, not success and excellence.

[Mark D. Isaacs]

We can never get enough Dr. Walter Williams. Heed the wisdom of the great man!

[Hateeeem]

Is that supposed to be a genius or something?