Mar 15, 2018
Jon made the ultimate libertarian mistake last episode and talked about the Federal Reserve being a for profit corporation like profit was a bad thing. But have no fear! Mistakes allow you to expand on your intent and it brings you the newest episode on why profit is a good thing.
First things first, what is profit? What is money? Well, money is just a representation of value to trade with others. Profit is trading to get excess value to trade for additional things that are needed or wanted. We get in depth on basic economic principles of money and the profit motive.
The profit motive is what drive efficiency an innovation. The greatest things in life have come from people looking for ways to make life better, easier, and more comfortable all due to wanting to make profit.
Milton Friedman said, "It's always the other fellow whose greedy. It's never any of us." Whether or not you are a business owner, everyone tries to make as much money as possible for the least amount of work. When you interview for a job, you want the highest salary possible.
Apple, Uber, Ford, Space X, Facebook and Amazon are just a few companies that have given us examples of how profit has improved everyone's lives. Henry Ford, Steve Jobs, and Ellon Musk are all epitomes of visionaries driven by making a profit.
Listen in and let us know what you think! Help spread this message!
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Whiskey of the Week is Pinhook. An interesting bourbon rye.