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Why does the word "profit" have a negative connotation?
Posted on 8/18/14 at 5:02 am
Posted on 8/18/14 at 5:02 am
I started this thread a few months back, but I was thinking again today about the peculiar hostility against "for-profit" institutions, even among populist conservatives. Where does this hostility come from?
Profit (and loss) is probably the most important component of a market economy, yet in so many movies, shows, books, etc, the bad guy is always influenced by "profit", or the evil company is always doing bad things for "profit".
Nothing irritates me more than when people chastise and whine about "for-profit" firms. When one complains about profit, he or she can immediately be dismissed as economically illiterate.
Profit (and loss) is probably the most important component of a market economy, yet in so many movies, shows, books, etc, the bad guy is always influenced by "profit", or the evil company is always doing bad things for "profit".
Nothing irritates me more than when people chastise and whine about "for-profit" firms. When one complains about profit, he or she can immediately be dismissed as economically illiterate.
14
Posted on 8/18/14 at 6:05 am to HailHailtoMichigan!
I started this exact thread a few weeks ago.
DS told me I was cray.
DS told me I was cray.
Posted on 8/18/14 at 6:06 am to HailHailtoMichigan!
quote:
Nothing irritates me more than when people chastise and whine about "for-profit" firms. When one complains about profit, he or she can immediately be dismissed as economically illiterate.
The basis for this argument seems to be that all profits are the result of a zero sum game. We all know that this isn't true, but the general public doesn't seem to have a basic understanding of economic fundamentals, which allows this meme to be spread very easily.
Posted on 8/18/14 at 6:52 am to HailHailtoMichigan!
Short answer:
Profit-motive is just that: motive. It's the motive that has built and sustained any vibrant economy. Humans wants to improve their condition and want to have more. For the most part, it's a selfish ambition, but it's side-effects naturally improve the condition of others.
However, the phrase "money is the root of all evil" didn't just pop up out of nowhere for no reason. People will do F'd up things to make a buck. Not saying that is the case with many for-profit organizations, but that's why you see the movie plots centering around it.
Profit-motive is just that: motive. It's the motive that has built and sustained any vibrant economy. Humans wants to improve their condition and want to have more. For the most part, it's a selfish ambition, but it's side-effects naturally improve the condition of others.
However, the phrase "money is the root of all evil" didn't just pop up out of nowhere for no reason. People will do F'd up things to make a buck. Not saying that is the case with many for-profit organizations, but that's why you see the movie plots centering around it.
Posted on 8/18/14 at 6:53 am to HailHailtoMichigan!
what percentage of the US population do you think could differentiate between economic and accounting profit?
Posted on 8/18/14 at 7:18 am to HailHailtoMichigan!
Cuz Liberals.
Posted on 8/18/14 at 7:51 am to HailHailtoMichigan!
because people only look at one side of a transaction. when people look negatively on a person for gaining a personal advantage in an exchange, they see it as a negative. the problem is that there is an assumption that this product (or progress) would be available to consumers but-for that desire to gain a personal benefit from exchanging the subject good/idea
what these people fail to see is how (1) the consumer wants/needs the good and (2) the consumer is better off with the innovation that was required to make the good. just look at this method of communication. or our super phones. or all the advances that we've made at mach 7 the past 15 years. lots of people made a frick ton of money along the way providing things to us that make all of our lives better.
what these people fail to see is how (1) the consumer wants/needs the good and (2) the consumer is better off with the innovation that was required to make the good. just look at this method of communication. or our super phones. or all the advances that we've made at mach 7 the past 15 years. lots of people made a frick ton of money along the way providing things to us that make all of our lives better.
Posted on 8/18/14 at 8:02 am to HailHailtoMichigan!
quote:
Why does the word "profit" have a negative connotation?
So that those who chose not to make a profit or can't may feel better about themselves when they ask to have some of those who can.
Posted on 8/18/14 at 8:04 am to HailHailtoMichigan!
I've never seen the word itself have negative connotations. I have seen the means in which some corporations work to acquire profits have negative connotations.
Posted on 8/18/14 at 8:07 am to HailHailtoMichigan!
quote:
Why does the word "profit" have a negative connotation?
Who says it has a negative connotation? Only a commie would suggest such a thing.
Posted on 8/18/14 at 8:36 am to HailHailtoMichigan!
Liberals. Pure and simple.
Posted on 8/18/14 at 9:25 am to HailHailtoMichigan!
It doesnt
Posted on 8/18/14 at 10:37 am to HailHailtoMichigan!
quote:
When one complains about profit, he or she can immediately be dismissed as economically illiterate.
This is pretty much SOP from my perspective.
Posted on 8/18/14 at 11:34 am to HailHailtoMichigan!
easy, the last 100 years, ditch diggers and want to be intellectuals have been preaching to anyone who will listen that profit comes at the expense of someone's well being, rights, and livelihood.
"profiting off of the work of others, the misery of others, the exploitation of others...and it just keeps going"
no one every works hard, sells a good or service and makes a profit...that shite just doesn't happen and if they do...evil fricking pigs
"profiting off of the work of others, the misery of others, the exploitation of others...and it just keeps going"
no one every works hard, sells a good or service and makes a profit...that shite just doesn't happen and if they do...evil fricking pigs
This post was edited on 8/18/14 at 11:36 am
Posted on 8/18/14 at 11:36 am to HailHailtoMichigan!
I think it's a vestige of the denigration of the word 'usury.' The history of this term explains a lot about the hatred of Jews. The idea of making money without physical labor ...bankers, traders. Class warfare goes back 1,000s of years.
Adam Smith is a newcomer in historical terms.
Adam Smith is a newcomer in historical terms.
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