blind leading the blind Re: [LINK] Airport to tag passengers

[Deus Ex Machina]

Adam Todd [link at todd.inoz.com] wrote:
> >Profit is the bit left in your pocket after you have exchanged something 
> >for more than its value. That's its definition, Vic
> 
> Ouch!  That's a nasty definition!  I thought profit was a god given right?

what comedy. I cant believe that so many supposedly intelligent people
are in fact so economonically and politically retarted. its clearly the
blind leading the leading the blind here.

a business has input costs and output costs. profit is an output cost
representing the cost of risk adjusted capital (dollar or
human), either returned to shareholders or reinvested.

profit is no different if you hold an abn or not, you put in some effort
or creativity and there is nothing unfair about expecting equivalent value
in return. that value is determined relative to the receiver and others.

maybe the ill informed on this list think that investment should always be made without
taking risk into consideration ie at zero profit, but anyone that isnt a rebelious little
16 year old without even a basic primer of economics and business sense
will think otherwise.

maybe the naive little rebels on this list think everyone should work
for nothing all the time. after all salary/wage == profit.

value is subjective, meaning quite clearly that different people
will place differing value on the same good or service. as such value
only crystalise when the parties to an exchange agree as to its value
and voluntarily choose to exchange for mutual benefit.

ie when the buyer considers that their take on the value is reasonable
and the seller considers their return on investment is reasonable a
voluntary exchange can take place.

this inconvenient truth has to be ignored by commie because commie only
knows one correct set of values, his or her own. commie of course loves
to inflict this set of righteous values because commie is an elitist, and
the more intelligent commie is, the more convinced that he or she is
correct and that everyone else needs to follow the correct set of values.

the fact we have some children on this list not even understanding the
absolute basics about economics and business makes it very hard to have
a rational discussion about it.

rather the blind keep parading their ignorance in trully embarasing
fashion to the other blind.

Vic