A Quote by Fritz Machlup

The danger of tautological propositions is considerable in discussions of the concept of normal profits. Because supernormal profits seem to invite newcomers to an industry and sub-normal profits seem to drive away those who are in an industry, some writers are inclined to define normal profits as the earnings of the fixed resources in an industry which neither grows nor declines in size or number of firms. It should be clear that such a definition is useless: it muddles together attractiveness and actual afflux, desirbility of entry and ease of entry, zero profits and monopoly rents.

Fritz Machlup

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Actual Attractiveness Away Because Clear Concept Considerable Danger Define Definition Discussions Drive Earnings Ease Entry Fixed Grows Inclined Industry Invite Monopoly Neither Newcomers Nor Normal Number Profits Propositions Resources Seem Should Size Some Those Together Useless Which Writers Zero

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Fritz Machlup
American - Economist
December 15, 1902 - January 30, 1983

We've grown from 18% of the profits of the top 25 companies in our industry to 23% of the profits of the top 25 companies in our industry over the last five years. Profits are up over 70%, where the industry profit is up about 35%. Pretty good.

Steve Ballmer

Firms would be given initial entitlements to gross markup on the basis of past performance, adjusted by changes in labor and capital inputs. This is somewhat similar to the definition of normal profits under some versions of the wartime excess -profits tax. Entitlements would be transferable and a competitive market established.

William Vickrey

Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied... He who serves the public best, makes the highest profits.

Ludwig von Mises

Big Pharma needs sick people to prosper. Patients, not healthy people, are their customers. If everybody was cured of a particular illness or disease, pharmaceutical companies would lose 100% of their profits on the products they sell for that ailment. What all this means is because modern medicine is so heavily intertwined with the financial profits culture, it’s a sickness industry more than it is a health industry.

James Morcan

A huge part of Apple profits generated in Europe, in African countries, Middle East, and India were all booked in Ireland. And I think it is a very basic principle in taxation that your profits are taxed where the profits are generated.

Margrethe Vestager

Too many companies these days can't tell the difference between good profits and bad.... By now you're probably wondering how in heaven's name profit, that holy grail of the business enterprise, can ever be bad. Short of outright fraud, isn't one dollar of earnings as good as another? Certainly, accountants can't tell the difference between good and bad profits. They all look the same on an income statement. While bad profits don't show up on the books, they are easy to recognize. They're profits earned at the expense of customer relationships.

Fred Reichheld

The normal profits of a business concern in the United States are six, eight, ten, and sometimes twelve percent. But war-time profits - ah! that is another matter - twenty, sixty, one hundred, three hundred, and even eighteen hundred per cent - the sky is the limit.

Smedley Butler

The employers cannot carry on industry nor accumulate profits if they have not got the good will of the workers or their acquiescence in carrying on such industry.

James Larkin

Defense contractors are able to reap tremendous profits while rarely confronting the risks for which those profits are supposed to be the reward.

James Surowiecki

On behalf of the newspaper industry I wish to announce some changes we're making to serve you better. When I say 'serve you better,'' I mean 'increase our profits.' We newspapers are very big on profits these days. We're a business, just like any other business, except that we employ English majors.

Dave Barry

The Business Profits Tax, which is imposed on in-state businesses, we need to impose the same thing on out-of-state businesses, because the way the Business Profits Tax is calculated, it is highly dependent on how much sales and profits are generated in-state.

Craig Benson

Some people would argue the other side: that the business of business is business, and companies should only be focused on profits. But in today's world, I don't think corporations can only be focused on profits, because they are inextricably linked with the communities that they serve. I do not believe you can be a leader in your industry without being a leader in your community. It's a fundamental shift in how you think about business.

Marc Benioff

Drugs are available to those who want them. And where are those profits going? Into organized crime, [to criminals] who spend their profits on the destruction of whole societies.

Sam Branson

When I say 'serve you better,' I mean 'increase our profits.' We newspapers are very big on profits these days.

Dave Barry

Everything is always about people trying to make profit: Profits to this, profits to that, the more the merrier, and there's no end to it.

Varg Vikernes

Businesses just want to increase their profits; it's up to the government to make sure they distribute enough of those profits so workers have the money to buy the goods they produce. It's no mystery - the less poverty, the more commerce. The most important investment we can make is in human resources.

Jose Mujica

A Quote by Fritz Machlup

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