We need a market neither pro-business nor pro-labor

What's wrong with maximizing profits?

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  • William Gronberg Payson, UT
    June 12, 2012 7:38 p.m.

    “The workers get wages that they value at least as much as the leisure time they are giving up to work”

    During my forty one years of full time employment, I never ever thought of work as an exchange of “leisure time” for wages. I will not struggle to come up with a better definition of the above relationship. The exchange of wages for leisure time involves much more than that. Mr. Phillips is well aware of that and he has only a limited amount news space to develop his main subject.

    The sale of quality goods and services by “greedy” persons on a level playing field is fine. But some of the greed out in this big world involves just “churning” the EXISTING wealth. These folks do not create any additional wealth in society, they just create a situation where some of that existing wealth ends up in their portfolio. Greed does apply to these folks, but is not really the best word for those who sell quality goods and services.