Profit Maximization Quotes

While some may view ethics as a constraint on profit maximization, a growing body of evidence suggests that ethical governance is actually a m powerful driver of long-term value creation and sustainable success.

If economics were only about profit maximization, it would be just another name for business administration. It is a social discipline, and society has other means of cost accounting besides market prices.

The Internet is transient. Information can be removed with a couple of mouse-clicks; it is an Orwellian dream. We have been advised, by people who claim to know about these things, that there is no point in protesting against a social network. Whoever owns the network will run it as they see fit, normally to maximize their profit margin. Members who dispute the rules will simply be thrown out. The Terms of Use are written so as not to allow them any recourse.

As a business owner, you should be looking at data as a key resource to help you make more informed decisions that ultimately allow you to grow revenues and maximize profits.

Profits are a standard, not a priority. The business should price its products and services maximally above its expenses. But the priority and main focus should always be adding value to the customers lives. At Mayflower-Plymouth, we're here to help your business figure this out, and to provide holistic solutions.

Millions of business people are each constantly forced to choose between their desire to not be a bad person and their desire to be a good business person, that is to say, to make as much money as they possibly can by maximizing their revenue while minimizing the cost of producing whatever it is that they sell.

With info-capitalism, a monopoly is not just some clever tactic to maximize profit. It is the only way an industry can run.

For their never-ending endeavours to obtain or retain wealth, countries desperately need companies, because they—unlike most human beings—have the means of production, and human beings, because they—unlike all companies—have the means of reproduction.

Margins matter in business. If a business has $1,000,000 dollars in revenues but $1.5 million in expenses, the business is heading for self destruction due to a liquidity problem. Meanwhile, if another business only has $100,000 in revenues and $50,000 in expenses, it’s doing better than the first business even though it has less revenues. And a business with $60,000 in revenues but only $2,000 in expenses technically has a greater margin than both of the other businesses. Revenues are very important, but the key is to both maximize revenues and minimize expenses so that you have the widest profit margin possible.

Mainstream politicians will continue to protect existing systems of power, corporate executives will continue to maximize profit without concern, and the majority of people will continue to avoid these questions. It’s the job of people with critical sensibilities—those who consistently speak out for justice and sustainability, even when it’s difficult—not to back away just because the world has grown more ominous.

For a sane person to sincerely be happy that someone has succeeded, they have to either be profiting or likely to profit from that person’s success, or be that person.

Right now, we need writers who know the difference between production of a market commodity and the practice of an art. Developing written material to suit sales strategies in order to maximize corporate profit and advertising revenue is not the same thing as responsible book publishing or authorship.

When prisons are privatized, issues of crime and justice are taken out of the realm of ethics or morality and placed squarely within the culture and logic of the free market. In doing so, the mission of rehabilitating or even punishing people is trumped by the market-driven goal of maximizing shareholder wealth. Further, market-based notions of “efficiency” prompt prisons to divest from everything but the crudest institutional resources. Healthful foods, mental health resources, and educational programs all become fiscal fat that must be trimmed by the prison in order to maximize the bottom line. In simple terms, we have created a world where there is profit in incarcerating as many individuals as possible for as little money as necessary.

Neoliberalism is the defining political economic paradigm of our time—it refers to the policies and processes whereby a relative handful of private interests are permitted to control as much as possible of social life in order to maximize their personal profit.

If you use too much leverage and overplay your hand to maximize your profit from a particular deal, you may win the battle but lose the war.

We’re cutting corners, maximizing short-term profits

One of the reasons Subscriptions are so profitable is that they naturally maximize Lifetime Value.

It was simply part of the uniform, and she’d do anything to maximize profits. This singular focus and pragmatism is what made her so successful.

When things are orderly, it reduces the possibility of waste. When things are orderly, it maximizes efficiency. Eliminating waste and maximizing efficiency both lend themselves to profit.

The late-modern achievement-subject does not pursue works of duty. Its maxims are not obedience, law, and the fulfillment of obligation, but rather freedom, pleasure, and inclination. Above all, it expects the profits of enjoyment from work. It works for pleasure and does not act at the behest of the Other. Instead, it hearkens mainly to itself. After all, it must be a self-starting entrepreneur

Was life really an endless string of being bounced around from company to company, from Owner to Owner, being seen as a line item on a balance sheet—a number to get as low as possible to maximize profits?

Capitalism is great at facilitating the maximization of production — regarding efficiency only as it effects the profit of the producer and the profit of the buyer in any given transaction. But permaculture economics is great at facilitating the maximization of productivity — regarding efficiency more holistically and measuring according to multiplicative value effects.

I mean, to talk about "corporate greed" is like talking about "military weapons" or something like that―there just is no other possibility. A corporation is something that is trying to maximize power and profit: that's what it is. There is no "phenomenon" of corporate greed, and we shouldn't mislead people into thinking there is. It's like talking about "robber's greed" or something like that―it's not a meaningful thing, it's misleading. A corporation's purpose is to maximize profit and market share and return to investors, and all that kind of stuff, and if its officers don't pursue that goal, for one thing they are legally liable for not pursuing it. There I agree with Milton Friedman [right-wing economist] and those guys: if you're a C.E.O., you must do that―otherwise you're in dereliction of duty, in fact dereliction of duty. And besides that, if you don't do it, you'll get kicked out by the shareholders or the Board of Directors, and you won't be there very long anyway.

Properties perceived in nature will depend on how one looks and how one looks depends on the economic interest one has in the resources of nature. The value of profit maximization is thus linked to reductionist systems, while the value of life and the maintenance of life is linked to holistic and ecological systems.

What is the goal of the system? Should an entire layer of corporate bureaucracy called “insurance companies”—which employ hundreds of thousands of people who have absolutely nothing to do with the actual provision of health care—be allowed to continue determining policies and priorities with the sole purpose of maximizing profits?

these six corporations, and more precisely, the key decision makers within them, set the boundaries on acceptable debate on what’s socially, politically, economically possible. They make their decisions on those things based on profit maximization, both short and long term. If you think they’re making their decisions on anything else, you are mistaken.

What would best serve our customer here? How could I most easily give the customer what he wants while also maximizing profits for the company?

The workers of the world have to see that capitalism is only interested in profit, not them, and that it will inevitably reduce them to slave labor as it maximizes profit.

The further removed we are from the land, the greater our insecurity.

Of Wall Street maxims the most foolish may be “You can't go broke taking a profit.

Cities are the world’s new vacant niches, and the blackbird is one species that has embarked on the road toward speciating to maximize its profits from this horn of plenty,

Ultimately it boils down to a simple equation: income minus expenses equals profit. There are certain ways of being that maximize or minimize income. There are certain ways of being that maximize or minimize expenses. Administration done well is about aligning the business with the ways of being which maximize income, and the ways of being which minimize expenses.

Companies should optimize working capital management because it allows them to maximize efficiency and profitability. Efficient management of working capital ensures that a company has enough liquidity to meet its short-term obligations while minimizing excess capital tied up in non-productive assets, ultimately enhancing cash flow, reducing financing costs, and improving overall financial health.

The only way out was to go back the next year and buy his sheep and pay over the odds to make up for it, so he did. Neither of these men cared remotely about “maximizing profit” in the short-term in the way a modern business person in a city would; they both valued their good names and their reputations for integrity far more highly than making a quick buck. If you said you would do a thing, you’d better do it.

Talk about corporate greed and everything is really crucially beside the point, in my view, and really should be recognized as a very big regression from what working people, and a lot of others, understood very well a century ago. Talk about corporate greed is nonsense. Corporations are greedy by their nature. They’re nothing else – they are instruments for interfering with markets to maximize profit, and wealth and market control. You can’t make them more or less greedy; I mean maybe you can sort of force them, but it’s like taking a totalitarian state and saying “Be less brutal!” Well yeah, maybe you can get a totalitarian state to be less brutal, but that’s not the point – the point is not to get a tyranny to be less brutal, but to get rid of it. Now 150 years ago, that was understood. If you read the labour press – there was a very lively labour press, right around here [Massachusetts] ; Lowell and Lawrence and places like that, around the mid nineteenth century, run by artisans and what they called factory girls; young women from the farms who were working there – they weren’t asking the autocracy to be less brutal, they were saying get rid of it. And in fact that makes perfect sense; these are human institutions, there’s nothing graven in stone about them. They [corporations] were created early in this century with their present powers, they come from the same intellectual roots as the other modern forms of totalitarianism – namely Stalinism and Fascism – and they have no more legitimacy than they do. I mean yeah, let’s try and make the autocracy less brutal if that’s the short term possibility – but we should have the sophistication of, say, factory girls in Lowell 150 years ago and recognize that this is just degrading and intolerable and that, as they put it “those who work in the mills should own them ” And on to everything else, and that’s democracy – if you don’t have that, you don’t have democracy.

You have spent your life among scholarly men of good will. To you the universe is a benevolent place; it has treated you with kindness, or, at least, neutrality. I have seen passion and malice and greed, and I know that intelligence is not necessarily benevolent; in fact, in my experience, it is more likely to be merely an instrument in the persistent search for advantage, in weighing profit and loss and finding a means of maximizing profit and minimizing loss.

A system that has only one goal, the maximization of profits in an endless quest for the accumulation of capital on an ever-ending scale, and which thus seeks to transform every single thing on earth into a community with a price, is a system that is soulless; it can never have a soul, never be green. It can never stand still, but is driven to manipulate and fabricate whims and wants in order to grow and sell more... forever. Nothing is allowed to stand in its path.

It seems to me, therefore, that the instinctive although seldom articulated purpose of holding a funeral or memorial service is to reunite the people most intimate with the deceased, and to collectively rekindle in them all, for one last time, the special living flame that represents the essence of that beloved person, profiting directly or indirectly from the presence of one another, feeling the presence of that person in the brains that remain, and thus solidifying to the maximal extent possible those secondary personal gemmae that remain aflicker in all these different brains. Though the primary brain has been eclipsed, there is, in those who remain and who are gathered to remember and reactivate the spirit of the departed, a collective corona that still glows. This is what human love means. The word "love" cannot, thus, be separated from the word "I"; the more deeply rooted the symbol for someone inside you, the greater the love, the brighter the light that remains behind.

The worst of what is called good society is not only that it offers us the companionship of people who are unable to win either our praise or our affection, but that it does not allow of our being that which we naturally are; it compels us, for the sake of harmony, to shrivel up, or even alter our shape altogether. Intellectual conversation, whether grave or humorous, is only fit for intellectual society; it is downright abhorrent to ordinary people, to please whom it is absolutely necessary to be commonplace and dull. This demands an act of severe self-denial; we have to forfeit three-fourths of ourselves in order to become like other people. No doubt their company may be set down against our loss in this respect; but the more a man is worth, the more he will find that what he gains does not cover what he loses, and that the balance is on the debit side of the account; for the people with whom he deals are generally bankrupt,—that is to say, there is nothing to be got from their society which can compensate either for its boredom, annoyance and disagreeableness, or for the self-denial which it renders necessary. Accordingly, most society is so constituted as to offer a good profit to anyone who will exchange it for solitude. Nor

People act in ways to maximize their self-interest within a company, so create incentives that align employee's objectives with the organization's mission statement. Reward compliance with core values as much as profitability, especially in the face of competitive pressures.

In the history of the United States,” the literary scholar Lisa Lowe writes, “capital has maximized its profits not through rendering labor ‘abstract’ but precisely through the social productions of ‘difference,’ . . . marked by race, nation, geographical origins, and gender.

In truth, however, nothing is inevitable and very little is new. And tech is no more the root of the problem than are trade or globalization. Many of our most vaunted innovations are simply methods -- electronic or otherwise -- of pulling off some age-old profit-maximizing maneuver by new and unregulated means.

Profit is so very fluctuating that the person who carries on a particular trade cannot always tell you himself what is the average of his annual profit. It is affected not only by every variation of price in the commodities which he deals in, but by the good or bad fortune both of his rivals and of his customers, and by a thousand other accidents to which goods when carried either by sea or by land, or even when stored in a warehouse, are liable. It varies, therefore, not only from year to year, but from day to day, and almost from hour to hour. To ascertain what is the average profit of all the different trades carried on in a great kingdom must be much more difficult; and to judge of what it may have been formerly, or in remote periods of time, with any degree of precision, must be altogether impossible. But though it may be impossible to determine, with any degree of precision, what are or were the average profits of stock, either in the present or in ancient times, some notion may be formed of them from the interest of money. It may be laid down as a maxim, that wherever a great deal can be made by the use of money, a great deal will commonly be given for the use of it; and that wherever little can be made by it, less will commonly be given for it. According, therefore, as the usual market rate of interest varies in any country, we may be assured that the ordinary profits of stock must vary with it, must sink as it sinks, and rise as it rises. The progress of interest, therefore, may lead us to form some notion of the progress of profit.

We had to begin to practice deep, authentic collaboration. This meant a shift in how we move financial and human resources—there are enough people out there to support the movement(s) we need, but currently, organizations are pitted against each other to access money (less and less money), rather than creating and investing together to maximize a diversity of resources from money, to people, to spaces, to skills. Because we are not investing in a shared network of resources, it is easy to let structural and ideological particularities create deep splits throughout the non-profit sphere, rendering much of our work useless.

Well, it's been obvious for centuries that capitalism is going to self-destruct: that's just inherent in the logic of system―because to the extent that a system is capitalist, that means maximizing short-term profit and not being concerned with long-term effects. In fact, the motto of capitalism was, "private vices, public benefits"―somehow it's gonna work out. Well, it doesn't work out, and it's never going to work out: if you're maximizing short-term profits without concern for the long-term effects, you are going to destroy the environment, for one thing. I mean, you can pretend up to a certain point that the world has infinite resources and that it's an infinite wastebasket―but at some point you're going to run into the reality, which is that that isn't true. Well, we're running into that reality now―and it's very profound. Take something like combustion: anything you burn, no matter what it is, is increasing the greenhouse effect―and this was known to scientists decades ago, they knew exactly what was happening. But in a capitalist system, you don't care about long-term effects like that, what you have to care about is tomorrow's profits. So the greenhouse effect has been building for years, and there's no known technological fix on the horizon―there may not be any answer to this, it could be so serious that there's no remedy. That's possible, and then human beings will turn out to have been a lethal mutation, which maybe destroys a lot of life with us. Or it could be that there's some way of fixing it, or some ameliorating way―nobody knows.

The ‘Regal Seven (key) Ingredients of a Successful Company’ is: Pursue the goal of Profit Maximization keeping in mind the shareholders interests. To be achieved by developing and rendering Quality Goods and Services at a Reasonable Price. By inculcating Value and Ethics within the structure Through Sound People Management principles devised and effectively implemented. Further organizing Learning Programs and instill concept of ‘Learning and Earning’ Develop/Construct Customer Satisfaction. Build-Build-Build ; Build vision based values, Build your staff, Build customer satisfaction ; and witness your organization being built in the market.

Our problem is not to trace the emergence of a world market, of a sufficiently active class of private entrepreneurs, or even (in England) of a state dedicated to the proposition that the maximization of private profit was the foundation of government policy...By the 1780s we can take the existence of all these for granted...

Capitalism differs from other social forms because producers depend on the market for access to the means of production (unlike, for instance, peasants, who remain in direct, non-market possession of land); while appropriators cannot rely on 'extra-economic' powers of appropriation by means of direct coercion - such as the military, political and judicial powers that enable feudal lords to extract surplus labour from peasants - but must depend on the purely 'economic' mechanisms of the market. This distinct system of market dependence means that the requirements of competition and profit-maximization are the fundamental roles of life. Because of these rules, capitalism is a system uniquely driven to improve the productivity of labour by technical means. Above all, it is a system in which the bulk of society's work is done by propertyless labourers who are obliged to sell their labour-power in exchange for a wage in order to gain access to the means of life and of labour itself.

From the very beginning of its history, the manifold social evils of capitalism have given rise to oppositional movements. The one I am concerned with in this book is cooperativism, specifically worker cooperativism. There are many other kinds of cooperatives, including those in the credit, agriculture, housing, insurance, health, and retail sectors of the economy. But worker cooperativism is potentially the most “oppositional” form, the most anti-capitalist, since it organizes production in anti-capitalist ways. Indeed, the relations of production that constitute worker cooperativism also define socialism in its most general sense: workers’ democratic control over production and, in some varieties, ownership of the means of production (whether such ownership is organized individually, by owning shares of equity, or collectively). As one common formulation states, in the worker co-op, labor has power over capital, or “labor hires capital.” In the conventional business, by contrast, capital has power over labor, i.e., “capital hires labor.” None of the other kinds of cooperativism directly rejects these capitalist power-relations, although some may signify an implicit undermining of capitalism insofar as the co-op exists not primarily for the sake of maximizing profit but for satisfying some social need.

Under conditions of extreme deprivation people will continue to grow crops that promise economic relief, and they will continue to trade in those crops and their products. The ultimate beneficiaries are neither the impoverished Afghan or Columbian peasant nor the street-corner pusher in the U.S. ghetto or on Vancouver’s skid row. The illegality of mind-altering substances enriches drug cartels, crime syndicates, and their corrupt enablers among politicians, government officials, judges, lawyers, and police officers around the world. If one set out deliberately to fashion a legal system designed to maximize and sustain the wealth of international drug criminals and their abettors, one could never dream up anything to improve upon the present one—except, perhaps, to add tobacco to the list of contraband substances. That way the traffickers and their allies could profit even more, although it’s unimaginable that their legally respectable counterparts—tax-hungry governments and the nicotine pushers in tobacco company boardrooms—would ever allow that to happen.

Capitalism is great at facilitating the maximization of production — regarding efficiency only as it effects the profit of the producer and the profit of the buyer in any given transaction. But permaculture economics is great at facilitating the maximization of productivity — regarding efficiency holistically and messing according to multiplicative value effects.

The Qur’an promoted work and trade and defined commercial profit as “God’s bounty.”38 The Prophet, himself a merchant, is on the record with such sayings as: “He who makes money pleases God.”39 He is also known to have rejected calls for price-fixing, noting that only God governs the market.40 “Muhammad,” as French historian Maxime Rodinson succinctly put it, “was not a socialist.

How contaminated are U.S. pork products? Consumer Reports magazine tested nearly two hundred samples from cities across the country and found that more than two-thirds of the pork was contaminated with Yersinia.129 This may be because of the intensification and overcrowding that characterizes most of today’s industrial pig operations.130 As noted in an article in National Hog Farmer entitled “Crowding Pigs Pays,” pork producers can maximize their profits by confining each pig to a six-square-foot space. This basically means cramming a two-hundred-pound animal into an area equivalent to about two feet by three feet. The authors acknowledged that overcrowding presents problems, including inadequate ventilation and increased health risks, but they concluded that sometimes, “crowding pigs a little tighter will make you more money.”131

The age-old trick of transfer pricing Taking advantage of the fact that they operate in countries with different tax rates, TNCs [transnational corporations] have their subsidiaries over-charge or under-charge each other – sometimes grossly – so that profits are highest in those subsidiaries operating in countries with the lowest corporate tax rates. In this way, their global post-tax profit is maximized. A 2005 report by Christian Aid, the development charity, documents cases of under-priced exports like TV antennas from China at $0.40 apiece, rocket launchers from Bolivia at $40 and US bulldozers at $528 and over-priced imports such as German hacksaw blades at $5,485 each, Japanese tweezers at $4,896 and French wrenches at $1,089. The Starbucks and Google cases were different from those examples only in that they mainly involved ‘intangible assets’, such as brand licensing fees, patent royalties, interest charges on loans and in-house consultancy (e.g., coffee quality testing, store design), but the principle involved was the same. When TNCs evade taxes through transfer pricing, they use but do not pay for the collective productive inputs financed by tax revenue, such as infrastructure, education and R&D. This means that the host economy is effectively subsidizing TNCs.

ONE OF THE main differences between standard and behavioral economics involves this concept of “free lunches.” According to the assumptions of standard economics, all human decisions are rational and informed, motivated by an accurate concept of the worth of all goods and services and the amount of happiness (utility) all decisions are likely to produce. Under this set of assumptions, everyone in the marketplace is trying to maximize profit and striving to optimize his experiences. As a consequence, economic theory asserts that there are no free lunches—if there were any, someone would have already found them and extracted all their value. Behavioral economists, on the other hand, believe that people are susceptible to irrelevant influences from their immediate environment (which we call context effects), irrelevant emotions, shortsightedness, and other forms of irrationality (see any chapter in this book or any research paper in behavioral economics for more examples). What good news can accompany this realization? The good news is that these mistakes also provide opportunities for improvement. If we all make systematic mistakes in our decisions, then why not develop new strategies, tools, and methods to help us make better decisions and improve our overall well-being? That’s exactly the meaning of free lunches from the perspective of behavioral economics—the idea that there are tools, methods, and policies that can help all of us make better decisions and as a consequence achieve what we desire.

On the whole, M. de Villefort made and returned few visits. His wife visited on his behalf: this was accepted in society, where it was attributed to the amount and gravity of the lawyer’s business – when it was, in reality, deliberate arrogance, an extreme example of aristocratic contempt, in short, the application of the maxim: ‘Admire yourself and others will admire you’, a hundred times more useful in our days than the Greek one: ‘Know thyself’, which has now been replaced by the less demanding and more profitable art of knowing others.

Impact is a critically important concept when it comes to social innovation, generally used in the context of measuring whether social interventions do or don’t work. But conceptually, it’s very similar to the problem of measuring success in a business before you have profits. That’s why lean methods are so perfectly suited to this kind of work. The only real difference is that instead of talking about maximizing shareholder value, Lean Impact talks about maximizing social impact. An advance party of pioneers, some of whom you’ll read about here, is already doing this, but we need more. This book is a way to help add to their numbers. Lean Impact is not only transformational for the social sector, though. My hope is that people in other kinds of businesses and organizations will also pick it up and, after reading about the dedicated people and clear strategies whose stories Ann Mei has gathered, think about how the products and institutions they build affect the world. All of us have more to learn about how we make impact so we can move together into this new era. —Eric Ries, author of The Lean Startup and The Startup Way

Privatization, of course, is based on yet another myth: that government-run programs must be inefficient, and privatization accordingly must be better. In fact, as we noted in chapter 6, the transaction costs of Social Security and Medicare are much, much lower than those of private-sector firms providing comparable services. This should not come as a surprise. The objective of the private sector is to make profits—for private companies, transactions costs are a good thing; the difference between what they take in and what they pay out is what they want to maximize.31

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Thank you Neil, and to the givers of this beautiful reward, my thanks from the heart. My family, my agent, editors, know that my being here is their doing as well as mine, and that the beautiful reward is theirs as much as mine. And I rejoice at accepting it for, and sharing it with, all the writers who were excluded from literature for so long, my fellow authors of fantasy and science fiction—writers of the imagination, who for the last 50 years watched the beautiful rewards go to the so-called realists. I think hard times are coming when we will be wanting the voices of writers who can see alternatives to how we live now and can see through our fear-stricken society and its obsessive technologies to other ways of being, and even imagine some real grounds for hope. We will need writers who can remember freedom. Poets, visionaries—the realists of a larger reality. Right now, I think we need writers who know the difference between the production of a market commodity and the practice of an art. Developing written material to suit sales strategies in order to maximize corporate profit and advertising revenue is not quite the same thing as responsible book publishing or authorship. (Thank you, brave applauders.) Yet I see sales departments given control over editorial; I see my own publishers in a silly panic of ignorance and greed, charging public libraries for an ebook six or seven times more than they charge customers. We just saw a profiteer try to punish a publisher for disobedience and writers threatened by corporate fatwa, and I see a lot of us, the producers who write the books, and make the books, accepting this. Letting commodity profiteers sell us like deodorant, and tell us what to publish and what to write. (Well, I love you too, darling.) Books, you know, they’re not just commodities. The profit motive often is in conflict with the aims of art. We live in capitalism. Its power seems inescapable. So did the divine right of kings. Any human power can be resisted and changed by human beings. Resistance and change often begin in art, and very often in our art—the art of words. I have had a long career and a good one. In good company. Now here, at the end of it, I really don’t want to watch American literature get sold down the river. We who live by writing and publishing want—and should demand—our fair share of the proceeds. But the name of our beautiful reward is not profit. Its name is freedom. Thank you.

When I started this book, I worried that my strong sense that we’d arrived at a historic crossroads equivalent to the 1770s or 1860s or 1930s, America’s Fourth Testing, might seem like a stretch. By the end, I was no longer concerned about overstatement, particularly after the pandemic arrived—a new virus requiring new behaviors and policies, work and life suddenly more than ever dependent on the Internet, government failure by leaders ideologically dedicated to undermining government, maximizing corporate profit at all costs, and an American hyperindividualism whipped up by the right that makes a huge common problem harder to solve.

I'd suggest that what J R documents is the way that America is hollowing out the foundation necessary to even read a book like it, an America that teaches its children via closed-circuit television, an America that thinks democracy means owning a share of profit-maximizing publicly traded corporations. This is what it means to say that J R is about the conditions underlying the impossibility of its own reception. If there were a welcoming mass public for books like this, a public able to appreciate its beautiful difficulty and astonishing imagination, we wouldn't live in the sort of world so in need of savage satirical critique in the first place.

Our greatest national resource was once our self-sufficiency. We could forge our own steel, build our own cars, manufacture our own appliances, construct our own furniture, weave our own cloth—with the hands of our own workers—and were dependent on nobody else for our own survival. Can we say the same thing today? And who has benefitted from the pillaging of this greatest resource? Is it the workers who now sit idle, their jobs shipped off to India and China, while the politicians accuse them of deliberate sloth? Or is it those whose profits were maximized by exporting those jobs, and those in government whom they bribed to make doing so the law of the land?

Capitalism has this strange ability to kind of paralyse the altruistic part of humans. So at the weekends, they're altruistic, they love their grandchildren. Then during the week they take on the character of the corporation whose only job description, says Milton Friedman, is to maximize short term profits. If a human being does nothing except maximize their self interest, they're a sociopath. That's how it's defined. So during the week you behave like a sociopath and as if you have no grandchildren-or as if you hate the ones you have. And then at the weekend you become a loving grandfather again. That is apparently what capitalism does to us, based on the evidence.

They believed that the market was the ultimate judge of their work and their worth. The market created a true meritocracy: you either made money because you made good trading decisions or you lost money because you made bad ones. Enron traders didn't concern themselves with ethics or morality apart from the unyielding judgment of the markets. Maximizing profit was not inconsistent with doing good, they believed, but an inherent part of it, and the judge of good and bad was the immediate consequence of a split-second trade. The highest compliment a trader could pay a colleague was to call him intellectually pure. The worst insult was to accuse someone of making a deal that wasn't economic.

Obviously, in those situations, we lose the sale. But we’re not trying to maximize each and every transaction. Instead, we’re trying to build a lifelong relationship with each customer, one phone call at a time. A lot of people may think it’s strange that an Internet company is so focused on the telephone, when only about 5 percent of our sales happen through the telephone. In fact, most of our phone calls don’t even result in sales. But what we’ve found is that on average, every customer contacts us at least once sometime during his or her lifetime, and we just need to make sure that we use that opportunity to create a lasting memory. The majority of phone calls don’t result in an immediate order. Sometimes a customer may be calling because it’s her first time returning an item, and she just wants a little help stepping through the process. Other times, a customer may call because there’s a wedding coming up this weekend and he wants a little fashion advice. And sometimes, we get customers who call simply because they’re a little lonely and want someone to talk to. I’m reminded of a time when I was in Santa Monica, California, a few years ago at a Skechers sales conference. After a long night of bar-hopping, a small group of us headed up to someone’s hotel room to order some food. My friend from Skechers tried to order a pepperoni pizza from the room-service menu, but was disappointed to learn that the hotel we were staying at did not deliver hot food after 11:00 PM. We had missed the deadline by several hours. In our inebriated state, a few of us cajoled her into calling Zappos to try to order a pizza. She took us up on our dare, turned on the speakerphone, and explained to the (very) patient Zappos rep that she was staying in a Santa Monica hotel and really craving a pepperoni pizza, that room service was no longer delivering hot food, and that she wanted to know if there was anything Zappos could do to help. The Zappos rep was initially a bit confused by the request, but she quickly recovered and put us on hold. She returned two minutes later, listing the five closest places in the Santa Monica area that were still open and delivering pizzas at that time. Now, truth be told, I was a little hesitant to include this story because I don’t actually want everyone who reads this book to start calling Zappos and ordering pizza. But I just think it’s a fun story to illustrate the power of not having scripts in your call center and empowering your employees to do what’s right for your brand, no matter how unusual or bizarre the situation. As for my friend from Skechers? After that phone call, she’s now a customer for life. Top 10 Ways to Instill Customer Service into Your Company   1. Make customer service a priority for the whole company, not just a department. A customer service attitude needs to come from the top.   2. Make WOW a verb that is part of your company’s everyday vocabulary.   3. Empower and trust your customer service reps. Trust that they want to provide great service… because they actually do. Escalations to a supervisor should be rare.   4. Realize that it’s okay to fire customers who are insatiable or abuse your employees.   5. Don’t measure call times, don’t force employees to upsell, and don’t use scripts.   6. Don’t hide your 1-800 number. It’s a message not just to your customers, but to your employees as well.   7. View each call as an investment in building a customer service brand, not as an expense you’re seeking to minimize.   8. Have the entire company celebrate great service. Tell stories of WOW experiences to everyone in the company.   9. Find and hire people who are already passionate about customer service. 10. Give great service to everyone: customers, employees, and vendors.

To recap, Motivation 2.0 suffers from three compatibility problems. It doesn't mesh with the way many new business models are organizing what we do - because we're intrinsically motivated purpose maximizers, not only extrinsically motivated profit maximizers. It doesn't comport with the way that twenty-first-century economics thinks about what we do - because economists are finally realizing tht we're full-fledged human beings, not single-minded economic robots. And perhaps most important, it's hard to reconcile with much of what we actually do at work - because for growing numbers of people, work is often creative, interesting, and self-directed rather than routine, boring and other-directed. Taken together, these compatibility problems warn us that something's gone awry in our motivational operating system.

Kids . . . were hustled through basic training and speedily deployed to Iraq or Afghanistan, only to find another army already there—the shadow army of private for-profit defense contractors. Most of them were contracted to do a long list of chores that uniformed soldiers used to do for themselves when, courtesy of conscription, there were a lot more of them. To maximize their profits and minimize their work, however, the private contractors hired subcontractors who, in turn, hired subcontractors from third world countries to ship in laborers to do on the cheap the actual grunt work of hauling water and food supplies, cleaning latrines, collecting garbage, burning trash, preparing food, washing laundry, fixing electrical grids, doing construction, and staffing the fast food stands and beauty salons that sold tacos and pedicures to the troops.

All this depends, however, on the rich using their profits to open new factories and hire new employees, rather than wasting them on non-productive activities. Smith therefore repeated like a mantra the maxim that ‘When profits increase, the landlord or weaver will employ more assistants’ and not ‘When profits increase, Scrooge will hoard his money in a chest and take it out only to count his coins.’ A crucial part of the modern capitalist economy was the emergence of a new ethic, according to which profits ought to be reinvested in production. This brings about more profits, which are again reinvested in production, which brings more profits, et cetera ad infinitum. Investments can be made in many ways: enlarging the factory, conducting scientific research, developing new products. Yet all these investments must somehow increase production and translate into larger profits.

Discouraging cooperation and common purpose. Rewarding individuals for measured performance diminishes the sense of common purpose as well as the social relationships that provide the unmeasureable motivation for cooperation and institutional effectiveness.7 Reward based on measured performance tends to promote not cooperation but competition. If the individuals or units respond to the incentives created, rather than aiding, assisting, and advising one another, they strive to maximize their own metrics, ignoring, or even sabotaging, their fellows. As Donald Berwick, a leading medical reformer, has recounted, One hospital CEO described to me his system of profit-center management, in which middle management bonuses depended on local budget performance. I asked him if one of his managers would transfer resources from his department to another’s if it would help the organization as a whole. “Yes,” the CEO answered honestly, “if he were crazy.

According to the liberal theory entrepreneurs earn profit because they combine productive factors in the most economic manner. By seeking profit for themselves they also increase the efficiency of the productive system. According to Veblen, however, entrepreneurs may also earn profit by thwarting production. They can do this in virtue of certain institutional devices. In a sense, Veblen’s theory is, of course diametrically opposed to liberal theory. Yet, his premises are the same: he, too, thinks of an ideal economy which would maximize production if there were no interventions, although ‘interventions’ in his model may be caused by entrepreneurs. Veblen’s criticism is of the kind which can easily be understood by a liberal economist. It is merely a question of deciding what is an ‘intervention’ and what is ‘free’ or ‘natural’. His criticism does not reject the general presuppositions of liberal theory. A liberal can remain inside the boundaries of his theory when he tries to refute Veblen.

This resulted in a model of the macroeconomy as consisting of a single consumer, who lives for ever, consuming the output of the economy, which is a single good produced in a single firm, which he owns and in which he is the only employee, which pays him both profits equivalent to the marginal product of capital and a wage equivalent to the marginal product of labor, to which he decides how much labor to supply by solving a utility function that maximizes his utility over an infinite time horizon, which he rationally expects and therefore correctly predicts. The economy would always be in equilibrium except for the impact of unexpected ‘technology shocks’ that change the firm’s productive capabilities (or his consumption preferences) and thus temporarily cause the single capitalist/worker/consumer to alter his working hours. Any reduction in working hours is a voluntary act, so the representative agent is never involuntarily unemployed, he’s just taking more leisure. And there are no banks, no debt, and indeed no money in this model. You think I’m joking? I wish I was.

So think about the mentality of the people who devote themselves to destroying the prospects for organized human life, know very well what they’re doing, and are perfectly rational human beings. How do you put all this together? Take, say, Rex Tillerson, former CEO of ExxonMobil, then moved into the Trump administration, but was soon kicked out because he was considered too rational. As CEO of ExxonMobil, he was responsible for what I was just describing. Or take Jamie Diamond, CEO of JPMorgan Chase. I haven’t seen what he has to say about the topic, but he certainly understands all this. He’s an intelligent rational person, keeps his finger on the pulse of the world. He has to in order to make money. So what’s going on? Put yourself in their place. What do you do if you’re Rex Tillerson or Jamie Diamond? They actually have a couple of choices. One choice is to seek to maximize profits. The other choice is to quit and be replaced by somebody who will seek to maximize profits. So those are your choices. Does that account for the mentality? I don’t think it absolves the individuals from responsibility, but it does indicate that they have little choice. The problem is not just individual, it’s institutional.

In July 2018, a safety crisis rocked the global drug supply—and seemed to prove Baker’s point. Regulators in Europe announced a harrowing discovery: the widely used active ingredient for valsartan, a generic version of the blood pressure drug Diovan, contained a cancer-causing toxin known as NDMA (once used in liquid rocket fuel). The drug had been made by the Chinese company Zhejiang Huahai Pharmaceuticals, the world’s largest manufacturer of valsartan active ingredients. In the United States, over a dozen drug manufacturers, all of which used the Chinese ingredient, recalled their products, as did dozens more manufacturers around the world. The Chinese company tried to defend itself by explaining that it had altered its production process in 2012 to increase yields of the drug, a change that had been approved by regulators. In short, the change had been made to maximize profit. Some patients had been consuming the toxin for six years. As the FDA tried to reassure consumers that the risk of developing cancer, even from daily exposure to the toxin, was extremely low, a second cancer-causing impurity was detected in the ingredients. Though the valsartan catastrophe seemed to take the FDA by surprise, it shouldn’t have. In May 2017, an FDA investigator had found evidence at the plant in Linhai, China, that the company was failing to investigate potential impurities in its own drugs, which showed up as aberrant peaks in its test results. The investigator designated the plant as Official Action Indicated, but the agency downgraded that to VAI. In short, the company was let off the hook—only to wind up in the middle of a worldwide quality scandal less than a year later. By

The 12 Principles of Permaculture Investing are: 1. Accumulate & Compound Capital: Consistently save and invest to grow your capital base over time, leveraging the power of compound interest. 2. Utilize Capital: Actively deploy your capital into productive investments that generate returns, rather than letting it sit idle. 3. Retain Maximum & Gradiented Liquidity: Maintain a balance between liquid assets (easily accessible cash) and less liquid investments, ensuring you can meet immediate needs while still investing for the long term. 4. Actively Manage Passive: While focusing on passive income sources, actively monitor and adjust your investments to optimize returns and mitigate risks. 5. Prioritize Long-Term Growth: Focus on investments that offer potential for significant growth over the long term, even if they don't provide immediate high yields. 6. Prioritize Consistent Yields: Balance your portfolio with investments that provide reliable, consistent income to support your financial needs. 7. Add Net Value to all Stakeholders: Invest in ways that benefit not only yourself but also the broader community, environment, and all parties involved. 8. Provide Authentic Data: Be transparent and honest in your financial reporting, providing accurate information to all stakeholders. 9. Collect & Utilize Authentic Data: Base your investment decisions on reliable, verified data rather than speculation or rumors. 10. Diversify Holistically: Diversify your investments across different asset classes, industries, and geographical regions to reduce risk and maximize potential returns. 11. Harvest Yields Equitably: Distribute profits fairly among all stakeholders, ensuring everyone benefits from the investment's success. 12. Reinvest Yields in Most Profitable Assets: Continuously evaluate your portfolio and reinvest profits into the most promising opportunities to further compound your growth.

What Broch understood by kitsch (and who else before him had even looked into the question with the keenness and profundity it demands?) was by no means a simple matter of degeneracy. Nor did he think of the relation between kitsch and true art as comparable to that of superstition to religion in a religious age, or of pseudo-science to science in the modern mass age. Rather, for him kitsch is art, or art at once becomes kitsch as soon as it breaks out of the controlling value system. L'art pour l'art in particular, appearing though it did in aristocratic and haughty guise and furnishing us - as Broch of course knew - with such convincing works of literature, is actually already kitsch, just as in the commercial realm the slogan "Business is business" already contains within itself the dishonesty of the unscrupulous profiteer, and just as in the First World War the obtrusive maxim "War is war" had already transformed the war into mass slaughter. There are several characteristic elements in this value philosophy of Broch's. It is not only that he defined kitsch as "evil in the value system of art." It is that he saw the criminal element and the element of radical evil as personified in the figure of the aestheticizing literary man (in which category, for instance, he placed Nero and even Hitler), and as one and the same with kitsch. Nor was this because evil revealed itself to the writer understandably first of all in his own "value system." Rather, it was because of his insight into the peculiar character of art and its enormous attraction for man. As he saw it, the real seductiveness of evil, the quality of seduction in the figure of the devil, is primarily an aesthetic phenomenon. Aesthetic in the broadest sense; the businessmen whose credo is "Business is business" and the statesmen who hold with 'War is war" are aestheticizing literati in the "value vacuum." They are aesthetes insofar as they are enchanted by the consonance of their own system, and they become murderers because they are prepared to sacrifice everything to this consonance, this "beautiful" consistency.

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The form of argument used by Farjoun and Machover is rather alien to the tradition of political economy. The later has tended, from its inception, to look for explanations in terms of the actions of rational profit maximising individuals directing the economy towards some sort of equilibrium. Instead Farjoun and Machover, who were mathematicians not economists, imported the form of reasoning that had been used in thermodynamics or statistical mechanics. This branch of physics deals with the behaviour of large complex systems with huge numbers of degrees of freedom. The classical example of this type of system is gas composed of huge numbers of randomly moving molecules. In such a system it is fruitless to try and form a deterministic and microscopic picture of the interaction of individual molecules. But you can make a number of useful deductions about the statistical properties of the whole collection of molecules. It was from the statistical properties of such collections that Boltzmann was able to derive the laws of thermodynamics[Bol95]. What Farjoun and Machover did was apply this form of reasoning to another chaotic system with a large number of degrees of freedom : the market economy. In doing this they initiated a new discipline of study : econophysics. This, in a very radical way, views the economy as a process without a subject. It assumes nothing about knowing subjects, instead it attempts to apply the principle of parsimony. It assumes nothing about the individual economic actors. Instead it theorises the aggregate constraints and and statistical distributions of the system that arise from the assumption of maximal disorder. A such this approach is anathema to the subjectivist Austrian school9.

We are taught that the sole purpose of business is to maximize shareholder value. I dispute this premise. Yes, businesses need to be profitable to survive. Without profitability, the business dies. Profitable businesses help communities and the economy. But conscious businesses with conscious cultures include focusing on sustainability, not profitability alone. Conscious and sustainable organizations are those companies that include making a difference for the community at large and being purpose-driven as primary values. This can only be driven by REAL leaders. Robertson, Susan. Real Leadership: Waken To Wisdom. The Books Factory. Kindle Edition.

One specific conflict that often arises between donors and investors is how to treat proprietary information. Donors often seek to place the intellectual property an enterprise creates (best practices, challenges, and process innovations, for example) into the public domain as quickly as possible. Focusing on social impact, they want the enterprise to build bridges to entry for other social entrepreneurs to replicate the model widely. In contrast, most private investors want to maximize their financial return by building barriers that prevent others from adopting a new business model or technology. Neither approach maximizes blended value. Instead, impact investors need to find new ways to integrate the imperative to replicate models for maximum social impact with the need to generate profits and achieve investment exits.

For instance, since state buyers of meat paid attention to quantity rather than quality, collective farmers maximized profits by producing fatter animals. Consumers might not care to eat fatty meat but that was their problem. Only a foolish or saintly farmer would work harder to produce better quality meat for the privilege of getting paid less. As in all countries, bureaucracy tended to become a self-feeding animal. Administrative personnel increased at a faster rate than productive workers. In some enterprises, administrative personnel made up half the full number of workers. A factory with 11,000 production workers might have an administrative staff of 5,000, a considerable burden on productivity.

A business that thinks beyond 'profit making' and 'profit maximization' by incorporating corporate ethics and contributes to the society at large, through its well defined corporate social responsibilty policy, is the one that will withstand the test of time and meet sustainable growth in the market. I believe its curve will never grow flat for a good number of years and may only meet merger or acquisitions but rarely a winding up.

Smith suggested that in an economy of many small buyers and sellers, each trying to increase his own profit, our collective benefit would be maximized as though guided by an “invisible hand.” The notion is of limited use, because most markets are not as Smith assumed. Take computer chips: 99.8 percent of them, worldwide, are made by just two US companies, and the smaller one is fighting to survive.

For interested consumers, there are many health pricing tools. For starters, I recommend The Wall Street Journal’s “Medicare Unmasked” tools,2 although they may be behind a paywall. The Health Care Cost Institute3 is a health-insurer funded effort to compare the cost of various procedures around the country.4 ProPublica, a non-profit news site, is one of several consumer sites that has used the CMS databases to build tools that are not exactly beloved by health care providers, including Dollars for Docs5 and Surgeon Scorecard.6

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These days, “junk” is the predominant food group.2776 Corporations willfully engineer products to maximize eating for profit, and the industry will happily make all the vegan junk we’re willing to buy.

Customer service has a huge influence on sales and cash flow. Customer service directly affects the attitude and actions of the team running the business. Customer service directly affects a business’s competitive advantage.

The goal of every business should be to make every customer feel valued, important, liked, and special with every interaction, with every employee, on every day. The number-one reason a customer will leave a business is that they feel unappreciated.

It doesn’t take a whole lot of energy to give great customer service! Appreciating a customer takes just as much energy as ignoring them. It all boils down to the attitude and the culture of the business. Either the business is completely committed to great customer service or it’s not.

It is much more expensive to acquire a new customer than to keep an old one. Yet many businesses will never recognize and change the things that cause them to lose their customers. They only focus on tactics to bring the new customer in the door to make enough profit for that month. I cannot stress enough the importance of focusing on retaining customers, which directly correlates to incredible growth and profits for the business. Providing exceptional customer service dramatically increases retention, which leads to increased referrals, which leads to dramatically increased profits and income.

The myth that profit maximization is the sole purpose of business has done enormous damage to the reputation of capitalism and the legitimacy of business in society. We need to recapture the narrative and restore it to its true essence: that the purpose of business is to improve our lives and to create value for stakeholders.

What he was doing was upsetting a carefully ordered protocol, one designed to maximize profits and endow those who played by the rules with cultural influence and standing. Award shows, Brando groused, weren’t about honoring the best: “They’re about making more money, and about Hollywood telling itself that it’s important.” He asked why optometrists didn’t have awards for “creating inventive, arresting, admirable eyeglass frames.

Asked in a class in the late 1970s at Harvard Business School about a hypothetical CEO who discovers his product could kill customers, young Jeff Skilling said he “would keep making and selling the product. My job as a businessman is to be a profit center and to maximize return to the shareholders. It’s the government’s job to step in if a product is dangerous.

Find the NOLs, add profitable business subsidiaries, and, ultimately, maximize the value of an asset we didn’t pay anything for in the first place.

the medical-industrial complex. It wasn’t designed for a crisis; if it was designed for anything, it was to maximize the profits of companies that enjoyed monopoly power.

Even so ordinary a ritual as sharing a meal can make a difference in how well a group thinks together. Lakshmi Balachandra, an assistant professor of entrepreneurship at Babson College in Massachusetts, asked 132 MBA students to role-play executives negotiating a complex joint venture agreement between two companies. In the simulation she arranged, the greatest possible profits would be created by parties who were able to discern the other side’s preferences and then work collectively to maximize profits for the venture as a whole, rather than merely considering their own company’s interests. Balachandra found that participants who dined together while negotiating—at a restaurant, or over food brought into a conference room—generated 12 percent higher profits, on average, than those who bargained while not eating.

If you reinvest dividends, which can often be a very smart investment move, you will no longer get to see on your statement what you originally paid to buy the position. Instead, our dividend profit masquerades as principal in a very powerful illusion that affects almost every investor.

Just because brokerages disclose a convoluted web of profiteering doesn’t mean it’s appropriate. It just means they are hiding these questionable practices in plain sight with a mountain of compliance language that no one will ever read.

The Importance of an Accountant for Medical Professionals Medical professionals, including doctors, specialists, and surgeons, often face the challenge of managing both patient care and the financial aspects of their practices. An accountant who specializes in working with medical professionals can alleviate much of this burden. By offering financial expertise tailored to the healthcare industry, accountants help medical professionals maintain the financial health of their practices while ensuring compliance with tax laws and regulations. Unique Financial Challenges in Healthcare Medical professionals face distinct financial challenges that other industries may not encounter. These include managing patient billing, insurance reimbursements, and government payments. Additionally, healthcare professionals often have to handle large expenses for medical equipment and office operations while ensuring they maintain a steady cash flow. With fluctuating income and the need to comply with healthcare regulations, financial management can become complex. A specialized accountant for medical professionals understands these nuances and provides essential support to navigate these challenges effectively. Key Roles of an Accountant for Medical Professionals An accountant plays a critical role in managing the financial side of a medical practice. They assist with bookkeeping, ensuring that all financial records are accurate and up-to-date. Furthermore, they handle tax planning and filing, making sure that healthcare-specific deductions are maximized while ensuring compliance with tax laws. Additionally, accountants offer strategic advice on managing overhead costs, optimizing cash flow, and planning for future financial goals, such as retirement or expanding the practice. Benefits of Hiring a Healthcare-Specific Accountant The benefits of hiring a specialized accountant for medical professionals are numerous. By entrusting financial management to a professional, medical practitioners can focus more on patient care. Specialized accountants understand the unique aspects of healthcare finance, offering tailored solutions that enhance profitability and reduce financial risks. Moreover, they provide peace of mind by ensuring all financial matters are handled efficiently and in compliance with the law. Conclusion In conclusion, medical professionals benefit significantly from hiring an accountant who specializes in healthcare finance. With their expertise, accountants help ensure the smooth operation of the practice while providing strategic financial planning. This allows medical professionals to focus on their primary responsibility—caring for their patients—while maintaining a financially sound practice.