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“Capitalism is about extracting profit from others, and for that reason usually raises ethical issues.”34 How do you extract profit from others without being arrested for theft? Nobody extracts profit from anyone. Ordinarily one sets a price for the goods or services one wishes to sell. Customers either materialize and purchase those goods or services, or they don’t. If they do, one earns a profit. If customers spurn your offering, then you fail to make a profit. Where does the extract come in? It doesn’t, of course, but using the word betrays what the good professor really thinks of business. ...more
Thou Shall Prosper: Ten Commandments for Making Money
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