Our main topic of discussion today was "Profit": What is profit? Is it bad or good or neutral?
Sales - Expenses = Profit or Expenses - Sales = Loss.
The possible profit is the incentive for an entrepreneur to contribute money to a business.
We read and discussed "People Before Profits" from the November 2003 Ideas on Liberty (at www.fee.org); and the importance of PRICES in determining the actions of businesses.
We ended by taking a survey from www.fte.org on "Identifying Needs". The survey was followed by animated discussion on whether transportation, education, etc are needs or wants....
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