Skip to comments.There'd Be No Thanksgiving Without the Profit Motive
Posted on 11/30/2011 6:58:45 AM PST by MichCapCon
Thanksgiving Day is a particularly appropriate time to reflect on the meaning and value of profit. The settlers at Plymouth colony who started the holiday tradition nearly wiped themselves out early on when they set up a communal, socialistic economy. Each person was producing for everybody else and received an equal share of the total production. In the absence of a strong profit motive, the settlers starved until Gov. Bradford altered the arrangement. Thereafter, men and women produced for profit and the result was bountiful harvests with full Thanksgiving tables.
The people who don't like profit prefer to extol the virtue of selflessness, the charitable motive. Don't get me wrong here, I'm not opposed to charity. A loving, caring concern for others is a beautiful thing, and Americans have always been the most charitable, giving people on the planet. But the fact remains that profit is responsible for more good thingsby a long shotthan all the charity in the world.
Consider this as you feast at the table today. The people who raised the turkey didn't do so because they wanted to help you out. The others who grew the cranberries and the yams didn't go to the trouble and expense out of some altruistic, charitable impulse. If you think those folks and the others who made almost everything else you own performed their tasks as sacrificial rituals, then you probably believe McDonalds when they say, "We do it all for you."
In Marxist North Korea, they have a regime that works night and day to see that nobody makes a profit or owns a private business. There won't be anything like Thanksgiving dinner in North Korea today, and that's no coincidence...
(Excerpt) Read more at michigancapitolconfidential.com ...
1)it provides powerful incentives for the steady expansion and improvement of production.
2)it operates to keep the relative size of all the various industries and occupations in proper balance.
3)It makes production accord with the will of the ultimate buyers, the consumers.
4)it ensures that the production of each individual good takes place in a way that is maximally conducive to production in the rest of the economic system.
5)It is what balances the demand and supply of each product.
6) It ensures the most rational and efficient distribution of each product over space and time - among all the markets that compete for it.
7)It ensures the delivery of each product into the hands of those individuals who, within the limits of their wealth and income, need or desire it the most.
8)It ensures the most rational and efficient allocation of capital and of every type of labor and material among its possible alternative uses.
9) It makes the economic system respond to changes in economic conditions in the most rational and efficient manner possible.
10) It prevents any sort of anarchy of production.
11) It creates economic order and harmony out of the activities of all the different individuals who comprise the economic system.
12) It is what enables capitalism to be an economic system that is rationally and cohesively planned by each and every individual who participates in it.
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