PROFIT- a reward an individual or company receives for the risk they take after they use their own devices to produce something. Revenue minus cost is profit. Profits are not evil. Profits are used to create more of what people want, and is indirectly affected by supply and demand. The government has so embedded into people’s heads the thought that profits are evil that people often boycott companies for accepting what money they voluntarily give them. Sound confusing?
For example, people will put gas in their vehicle, then boycott oil companies because they make profits. The same people could just ride a bike, walk, or use public transportation, but thanks to public schooling, they believe that anyone more successful than them is immoral.
PROPERTY RIGHTS-rights which allow the purchaser and owner of a product to do with it what he or she wishes. Property rights are probably the most important thing in a completely free society. Of course the government doesn’t necessarily see it that way. They agree with property rights as long as they don’t interfere with baseball stadiums, furniture stores, or casinos, all owned by people who give bureaucrats generous donations to rule in their favor. Property rights in America now mean almost nothing, thanks to eminent domain.
EMINENT DOMAIN- literally means “SUPERIOR OWNERSHIP”. Politicians love the term EMINENT DOMAIN because the average American doesn’t know the translation. EMINENT DOMAIN allows the government to do what whatever it wants with your property as long as its good for their wallets. This has led to people losing their homes and getting paid roughly 25% of the home’s market value from the government. This is often the result of someone daring to live where a company in bed with the feds wants to build another store.
John C. Keyser
May 19,2007