Friday, December 30, 2011

Profits, Entrepreneurship, and Storytelling

I was disappointed in the above mentioned Econtalk podcast because too much time was spent talking about the notion of "Desserts" or who deserves what, philosophizing about the morality of profits, and entertaining the progressive mind set that government knows best. 

A discussion of hedge fund manager's billion dollar average annual profits was centered on the moral dilemma of how much is too much. I did not hear any discussion about the creation of wealth and the fact that not one person, not even Steve Jobs, ate the money.  How can you have a discussion about profits and not talk about or tell a story about how the profits were invested immediately into the economy even leveraged multiple times. How the wealth created by innovation and entrepreneurship served to invigorate and empower other enterprises even noncommercial. And how a rising tide raises all ships even the dingy.

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