Re:Americans Have Quit Quitting Their Jobs
by Clent on Thursday July 06, 2023 @02:14PM
(#36620393)
In a perfect system, I wouldn't pay a penny more than your total cost. Capitalist extraction can only occur because we pretend it's not an exploitation of unequal knowledge.
Re:Americans Have Quit Quitting Their Jobs
by ETH_start on Thursday July 06, 2023 @08:38PM
(#36625421)
No, profit is just and economically rational compensation to the investor. Without it, the opportunity cost and risk of saving and investing, respectively, is not compensated for.
https://www.investopedia.com/terms/n/normal_profit.asp
"Economic profit is the profit an entity achieves after accounting for both explicit and implicit costs.
Economic Profit = Revenues - Explicit costs – Implicit costs
Normal profit occurs when economic profit is zero or alternatively when revenues equal explicit and implicit costs.
Total Revenue - Explicit Cost - Implicit Cost = 0
or
Total Revenue = Explicit + Implicit Costs"