Steven Horwitz
In his weekly column out today, John Stossel argues for the importance of competition and the role of profits in the health care industry. He cites Hayek's idea of "competition as a discovery procedure" as well as a Freeman essay of mine on "Profit: Not Just a Motive."
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Posted by: Sheldon Richman | August 26, 2009 at 10:42 AM
Isn't it funny that when an individual earns more than he spends, it is called saving; but when a company earns more than it spends, it is called profit.
Posted by: Lee Kelly | August 26, 2009 at 01:54 PM
As you can see, the previous "discussion" has been deleted. If our troll reappears, the same will happen again.
Posted by: Steve Horwitz | August 26, 2009 at 09:42 PM