Walter E Williams - The Function of Profits

Dr. Walter E Williams explains how the prospect of profits and the specter of loses provide incentives to meet consumer needs. http://www.LibertyPen.com

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News & Politics

Tags:

• liberty
• profits
• losses
• entrepreneur
• bankruptcy
• bailout
• freedom
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• consumer
• supply
• demand
• incentives
• tax
• wages
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• Coca-Cola
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• Edsel
• loses
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• subsidy
• restrictions
• quotas
• tariffs
• intervention

[dudemanbearpig]

Williams would be a black president we could be proud of.

[Elasaltaculos]

Great video. Walter Williams, another beacon of freedom

[diogotomediogo]

Profit is the reward of the entrepreneurs for the risk they put up in their business

[The442nd]

@dudemanbearpig and he is Dr. J's cousin to boot

[dangrbitch]

why does every fucking video with a black man the first thing they do is point at he's black

[7Highlander]

Why can't Mr. Williams be our president?

[bjarnet3]

I have listen to many of His great speeches, and I have learned a lot...

[Gyrode]

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!

[nalejbank]

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.

[Drhouse1961]

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.

[ensignbay]

fzqlcs: great summation of the function of profits.

[fzqlcs]

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