Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.

Original Article:&nbsp;<a href="https://mises.org/wire/war-producers-and-entrepreneurs-based-false-notions-profits" target="_blank">The War on Producers and Entrepreneurs Is Based on False Notions of Profits</a>

Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.{ai:summary}<p>Economic thinkers misunderstand the relationship between profits and workers' living standards. Profits in a market economy actually raise wages and living standards. #economy</p>

The War on Producers and Entrepreneurs Is Based on False Notions of Profits

Loading...