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You use the word "profit" like it's something that only evil capitalist robber barons can do, but we should all want everybody to be profitable. That's what it
by sebastos 3y ago
You use the word "profit" like it's something that only evil capitalist robber barons can do, but we should all want everybody to be profitable. That's what it is to have an economy.
Yes, fatcat wall street stockholders want the companies they hold stock in to be profitable so that they receive a return on their investment. But small local business owners want to earn a profit so that they have a take-home income that they can use to feed their family. Even bottom-rung workers employ their labor in such a way that it profits them. You wouldn't work a job if it didn't earn you a paycheck every two weeks which they you can use to buy food, shelter, furniture, electronics, etc. that give you a higher standard of living than what you could make with your own two hands. Everyone everywhere is always trying to get out more than they put in by being intelligent about what they put in. But if you're very young, or very old, or sick, you can't play that game. That's part of why the rest of us are trying to amass profits: so that we can all chip in some of that surplus to donate to those who need it. And eventually, we'll be part of that group ourselves, which is why we try to save for retirement.
It's a given that we all have to expend effort to stay alive and comfortable in this world. You have to do that whether you're part of a bustling economy or a hunter gatherer in the woods. But if you're part of a bustling economy, there's a chance that everybody can live an easier and more comfortable life because 1. people get to specialize their work towards what they're best at or what they enjoy most, and 2. because you can build on the shoulders of giants by using existing designs and infrastructure to more efficiently capture what we need from the ground, soil, etc. A growing economy is even better because it makes it a good bet that if you lend your money away to people who have a short-term need for it, they'll be able to give you back more than what you originally handed them. And because that person who has a short-term need believes that an infusion of money now will make even more profit than what they'd give back, they'll agree to that deal. Those conditions are good for supporting an aging population because you can give money to the most active and productive people, then get back more right when you need it.
Without a growing economy, none of that logic works anymore, and everything becomes less convenient for everybody - the elderly most of all.
- FollowingTheDao 3y ago> You use the word "profit" like it's something that only evil capitalist robber barons can do, but we should all want everybody to be profitable. I am using the economic definition of profit. Labor does not gain profit from selling their labor hours. Extending effort does not mean there is profit. Ask any non-profit. The need for profit means the theft of labor value from the worker.