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View Diary: Wall Street is Doing it Again: The Looting of America Continues (128 comments)

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  •  That's not profit. It's production. Profit is the (2+ / 0-)
    Recommended by:
    elwior, CA wildwoman

    difference between the cost of a good or service and the price for which it sold.

    That you add value does not mean that you create a profit.  

    Profit comes from finding a sucker to pay you more than what you have is worth.

    "I have often seen people uncivil by too much civility, and tiresome in their courtesy." Michel de Montaigne

    by JesseCW on Fri Feb 01, 2013 at 10:25:56 AM PST

    [ Parent ]

    •  Who determines worth? (1+ / 0-)
      Recommended by:
      elwior

      Boehner Just Wants Wife To Listen, Not Come Up With Alternative Debt-Reduction Ideas

      by dov12348 on Fri Feb 01, 2013 at 10:26:53 AM PST

      [ Parent ]

    •  Ridiculous (0+ / 0-)
      Profit comes from finding a sucker to pay you more than what you have is worth.
      The important thing about the economy is that different things are valuable to different people.

      If you mine coal, coal is not very valuable to you but quite valuable to other people. The difference is your profit. The point of the economy is find something that is comparatively easy for you to do but difficult or inconvenient for someone else to do.

      You both profit by trading your labor/goods in that circumstance.

      (-5.50,-6.67): Left Libertarian
      Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

      by Sparhawk on Fri Feb 01, 2013 at 10:36:56 AM PST

      [ Parent ]

      •  So we live in a barter economy and cash has no (3+ / 0-)
        Recommended by:
        cardboardurinal, elwior, CA wildwoman

        value.

        Gotcha.

        "I have often seen people uncivil by too much civility, and tiresome in their courtesy." Michel de Montaigne

        by JesseCW on Fri Feb 01, 2013 at 10:43:39 AM PST

        [ Parent ]

        •  Um sure (0+ / 0-)

          OK

          (-5.50,-6.67): Left Libertarian
          Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

          by Sparhawk on Fri Feb 01, 2013 at 11:00:01 AM PST

          [ Parent ]

          •  Cash is of the same general utility to me that (2+ / 0-)
            Recommended by:
            elwior, CA wildwoman

            it is to you.

            There is no mutual gain when one man is compelled to labor 14 hours a day to extract coal by another man who holds title to a coal mine one of his forefathers murdered a bunch of people to gain title to.

            But that's what profit is.  Getting more out of someone than you give back, objectively.

            "I have often seen people uncivil by too much civility, and tiresome in their courtesy." Michel de Montaigne

            by JesseCW on Fri Feb 01, 2013 at 12:11:38 PM PST

            [ Parent ]

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