Are Businesses Entitled to a Fair Profit?

Tags: Corporate Welfare, Cronyism and Corporatism, Economic Policy

12/09/2023 Gary Galles

One of the cliches of the New Deal was that businesses were entitled to a “fair” profit. Leonard Read astutely pointed out that profits (and losses) have nothing to do with “fairness.”

Original Article: Are Businesses Entitled to a Fair Profit?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.