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Is there an industry/business where the profit motive does not a) make people do things* and b) make people do things better?
At 8:00 we talked about how the profit motive works. Please take a listen and help me find a place where the profit motive doesn't work! (Leave your comments below)
http://media.worldnow.com/kfmbam/podcast/the_mike_slater_show_5863.mp3
And if you do think profit is evil, the best part about the free market is you decide who gets the profit! As Mises said in Human Action:
The consumers patronize those shops in which they can buy what they want at the cheapest price. Their buying and their abstention from buying decides who should own and run the plants and the farms. They [the consumer] make poor people rich and rich people poor. They determine precisely what should be produced, in what quality, and in what quantities. They are merciless bosses, full of whims and fancies, changeable and unpredictable. For them nothing counts other than their own satisfaction. They do not care a whit for past merit and vested interests. If something is offered to them that they like better or that is cheaper, they desert their old purveyors. In their capacity as buyers and consumers they are hard-hearted and callous, without consideration for other people.
*Connie added a much needed disclaimer to this point at the end of the second segment.
