A Quote by Ludwig von Mises
All people, entrepreneurs as well as non-entrepreneurs, look askance upon any profits earned by other people. Envy is a common weakness of men. People are loath to acknowledge the fact that they themselves could have earned profits if they had displayed the same foresight and judgment the successful businessman did.
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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.
But economic recovery must be earned. And it will be earned by entrepreneurs and it will be earned by small businesses.
There would not be any profits but for the eagerness of the public to acquire the merchandise offered for sale by the successful entrepreneur. But the same people who scramble for these articles vilify the businessman and call his profit ill-got.
The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.
It is not the fault of the entrepreneurs that the consumers,the people, the common man,prefer liquor to Bibles and detective stories to serious books, and that governments prefer guns to butter. The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely.
The successful entrepreneurs on the free market will be the ones most adept at anticipating future business conditions. Yet, the forecasting can never be perfect, and entrepreneurs will continue to differ in the success of their judgments. If this were not so, no profits or losses would ever be made in business.
Profit is vital to human well-being. Profit is the payment to entrepreneurs just as wages are payments to labor, interest to capital and rent to land. In order to earn profits in free markets, entrepreneurs must identify and satisfy human wants and do so in a way that economizes on society's scarce resources.
Many people look at successful entrepreneurs and think it's easy to get where they are at, but it really isn't. Many entrepreneurs work 16-18 hour days and thus have been able to achieve their high levels of success.
I call myself the hardware shelf. There's a lot of awards and honors there. And I have earned that. I didn't ask for it, I didn't beg for it, I didn't pay for it. I earned that. People see the accomplishments - but it's good to remind people that so much strife and labor and tears and heartbreak came before that, that it really is earned.
I think the American people should see that the corporations abandoned them long ago. That people will have to build their own economies and rebuild democracy as a living democracy. The corporations belong to no land, no country, no people. They have no loyalty to anything apart from the base-line - their profits. And the profits today are on an unimaginable scale; it has become illegitimate, criminal profit - profits extracted at the cost of life.
Look, it makes sense to be able to take part of what you've earned in this life and have it grow. And I hope that other musicians out there that do have their moments of profit and of success are wise enough not to squander those profits and that success.
Everyone is now praying at the altar of every last dollar of profits to please shareholders. If you invest in your people and treat them well, it's a different way to increase profits.
When people get rich, they cut themselves off from the context that has earned them these riches - the context of the common men. They forget they are part of society.
Entrepreneurs are more likely to be successful if they're able to be present while pitching their ideas. It's about maintaining presence during big challenges - very high stakes moments with some component of social judgment. Everyone has them, whether they're entrepreneurs or not.
It is all too easy for the liberal media to stir up the irrational hatreds of millions of people, who see themselves as less fortunate than others, by repeatedly talking about eh billions of dollars in 'windfall profits' earned by major corporations, by featuring periodic stories on the opulent living of wealthy individuals, or by pointing an accusing finger at 'loopholes' used by 'the rich.'
There is no reason why capitalists and entrepreneurs should be ashamed of earning profits.
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