Money and Banking
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.
The Economic Culture of Boom and Bust
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(29:32)