Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

link to READING - https://mises.org/library/profit-and-loss-0/html/p/1170 1. What is it that creates profit, according to Mises? 2. Why does Mises say that people who tax profits

link to READING - https://mises.org/library/profit-and-loss-0/html/p/1170

1. What is it that creates profit, according to Mises?

2. Why does Mises say that people who tax profits are "injuring themselves"?

3. Mises suggests that "Public opinion condones profits only as far as they do not exceed the salary paid to an employee. All surplus is rejected as unfair." Mises was writing in 1951 - do you think public opinion is the same now as it was then? Give some examples of people in today's world who have been excused of earning excessive profits.

4. Mises says one of the main functions of profit is to shift control of resources to people who know best how to use them. Describe Mises's view of how this happens in your own words.

5. what did you gain from reading this expert.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Economics And Policy

Authors: Thomas H Tietenberg

5th Edition

0321348907, 9780321348906

More Books

Students also viewed these Economics questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago