Capital, Interest, and Profit
Profit is total revenue minus total costs. Ours is not just a profit system, it is a profit and loss system. Losses are a sign that you wasted land, labor, or capital, yet those who make profits are criticized.
Profit is total revenue minus total costs. Ours is not just a profit system, it is a profit and loss system. Losses are a sign that you wasted land, labor, or capital, yet those who make profits are criticized.
Alexandre Padilla talks about Rothbard on Agency Problems at the 2003 Austrian Scholars Conference.
Ronald Hamowy discusses Hayek and the Common Law: An Assessment at the 2002 Austrian Scholars Conference.
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(39:25)
Presented at the Mises Institute on 18 November 2003. Includes a Question and Answer session.