Profits, in short, resulting from the relationships of costs to prices, not only tell us which goods it is most economical to make, but which are the most economical ways to make them. These questions must be answered by a socialist system no less than by a capitalist one; they must be answered by any conceivable economic system; and for the overwhelming bulk of the commodities and services that are produced, the answers supplied by profit and loss under competitive free enterprise are incomparably superior to those that could be obtained by any other method.
Profits guide and channel the factors of production so as to apportion the relative output of thousands of different commodities in accordance with demand. No bureaucrat, no matter how brilliant, can solve this problem arbitrarily. Free prices and free profits will maximize production and relieve shortages ipso facto more quickly than any other system. Arbitrarily fixed prices and arbitrarily limited profits can only prolong shortages and reduce production and employment.
The function of profits, finally, is to put constant and unremitting pressure on the head of every competitive business to introduce further economies and efficiencies, no matter to what stage these may already have been brought.
Profits guide and channel the factors of production so as to apportion the relative output of thousands of different commodities in accordance with demand. No bureaucrat, no matter how brilliant, can solve this problem arbitrarily. Free prices and free profits will maximize production and relieve shortages ipso facto more quickly than any other system. Arbitrarily fixed prices and arbitrarily limited profits can only prolong shortages and reduce production and employment.
The function of profits, finally, is to put constant and unremitting pressure on the head of every competitive business to introduce further economies and efficiencies, no matter to what stage these may already have been brought.
"Contrary to a popular impression, profits are achieved not by raising prices, but by introducing economies and efficiencies that cut costs of production. It seldom happens (and unless there is a government-responsible monopoly it never happens over a long period) that every firm in an industry makes a profit. The price charged by all firms for the same commodity or service must be the same; those who try to charge a higher price do not find buyers. Therefore, the largest profits go to the firms that have achieved the lowest costs of production. These expand at the expense of the inefficient firms with higher costs. It is thus that the consumer and the public are served."
by The Savvy Economist February 19, 2010
Get the profit mug.One who indiscreetly and publically grabs female, or male, tits. Payment to the titty grabber can anything from an angry hand slap to a knee to the testicles. NOTE: The only case by which payment will not be painful is if the titty grabber is female and knows the titty grab-ee.
Victims of professional titty grabbers can often be inclined to sue, or even get something known as a "restraining order". But don't worry titty grabbers, for there are many other tits in the sea of cleavage.
Victims of professional titty grabbers can often be inclined to sue, or even get something known as a "restraining order". But don't worry titty grabbers, for there are many other tits in the sea of cleavage.
DUDE1: *Pained look on face; hunched over in pain*
DUDE2: DUDE! What happened??!!?!?
DUDE1: Amanda gave me the payment for that titty grab i gave her.
DUDE2: Awww, no worries man, they'll grow back. Get back on the horse! Keep on truckin! There aren't enough professional titty grabbers as it is!!!
DUDE2: DUDE! What happened??!!?!?
DUDE1: Amanda gave me the payment for that titty grab i gave her.
DUDE2: Awww, no worries man, they'll grow back. Get back on the horse! Keep on truckin! There aren't enough professional titty grabbers as it is!!!
by brocksamson696 April 16, 2008
Get the professional titty grabber mug.Related Words
A guy who swears that he likes you, but continues to deny it, flirt with other girls, or tell you to your face that he likes " so and so". These people tend to lie about it so much that they engage in passionate arguments with you about it.
by Mad As Hell March 19, 2003
Get the professional playa mug.A professional mugger is an employee of a mugging coporation. To become a professional mugger you must apply for the job just like with any other job and wait for the company to hire you as a professional mugger. Once a professional mugger the person must earn a living by mugging people. Since they work for a company they must carry a CV around with them while they are working and hand it to the person they plan to mug before actually mugging them for them to check everything in order and is santioned by the government. After this the mugger is then allowed to mug the person.
Mal is a professional mugger and he was waiting in a dark alley when an elderly lady appeared. Mal handed the lady his CV and she read his details.
Elderly lady: Everything seems to be in order carry on.
Mal: Give me your money you old bag!
Mal proceeded to hit the old woman and then steal her belongings after he was done he left her a thankyou note, called an ambulance and then ran off with everything she had of value.
Elderly lady: Everything seems to be in order carry on.
Mal: Give me your money you old bag!
Mal proceeded to hit the old woman and then steal her belongings after he was done he left her a thankyou note, called an ambulance and then ran off with everything she had of value.
by Apemanjon September 5, 2008
Get the Professional mugger mug.A rapist
by JSD84848484 April 11, 2015
Get the Professional Surprise Sex Giver mug.Sock profit is worked out from the following equation.
X = the number of similarly coloured socks strewn on the floor of your house before a friend comes to visit
Y = the number of socks that you are left with after they mix your generic black socks up with their own socks during packing or washing. The party who has the most illegitimate socks gains SOCK PROFIT.
X = the number of similarly coloured socks strewn on the floor of your house before a friend comes to visit
Y = the number of socks that you are left with after they mix your generic black socks up with their own socks during packing or washing. The party who has the most illegitimate socks gains SOCK PROFIT.
Ben: Hey, there were 3 pairs of my black socks on the floor before you packed up, now there is 1!
Michael: ?!.....SOCK PROFIT!
Michael: ?!.....SOCK PROFIT!
by Wildcardnz February 6, 2009
Get the sock profit mug."My kid is definitely not getting circumcised; I'm not a fucking penis cutter!" yelled Steve, the Professor of Smegmatics
by leventhowa February 21, 2004
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