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Welcome to Keith's night. 
Don't try non anyone in the 

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libertarian Institute here is 
the prophets section from a 

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spontaneous order the capitalist
case for a stateless society. 

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One of the most incredible 
attributes of free markets is 

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the ability to harmonize our 
self-interests with the 

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interests of Greater Society. 
Contrary to the popular, 

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demonization of profits, as 
Action from Surplus, value 

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profits. 
In free markets, actually 

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represent the adding of value to
society. 

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Making a profit in free markets 
requires, one to combine or 

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transform some Goods. 
In such a way that its resulting

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configuration is valued more by 
the consumer than the cost of 

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Labor and original materials, 
including time used to produce 

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it. 
In other words, a profit is the 

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positive difference between the 
total cost of production and the

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resulting price paid for a good 
or service by the consumer. 

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If Joe constructs a bench that 
cost fifty dollars in materials 

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twenty dollars in labor and ten 
dollars in overhead costs, we 

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fix cost of the facility 
utilities Etc then the total 

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cost of production would be $80.
0 assuming Joe is able to sell 

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the bench for $100. 
This would indicate that he 

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would have added over twenty 
dollars of value to society. 

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Remember prior to Joe's efforts 
the some value of the resources 

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and labor used only amounted to 
$80. 

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However, through his 
entrepreneurial Insight, Joe was

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able to combine all of these 
resources in such a way to 

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create a That was worth more 
than the sum of its individual 

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components. 
Moreover, the trade is mutually,

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beneficial Joe benefits because 
he gets to pocket 20 more 

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dollars than he originally 
possessed in the consumer 

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benefits by receiving a product 
that he or she must necessarily 

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value more than $100 all parties
to any voluntary trade must 

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necessarily Sara Lee expect to 
be better off after conducting 

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the trade. 
Otherwise, the trade would never

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have occurred in unhampered 
economies. 

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Profits are always and 
necessarily a win-win. 

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Thus, the Quest, for profits by 
way of voluntary exchange and 

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not political entrepreneurship, 
is surely a humanitarian one, it

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should also be noted that 
profits need Not be monetary. 

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They may also be psychic for 
instance. 

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If one were to decide to give a 
homeless man on the street, $5, 

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this would not yield the 
benefactor a monetary profit. 

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However, the psychic pleasure he
receives from the gesture is 

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more valuable to him than the 
$5. 

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He surrendered once again, such 
an act would be considered one 

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whose aim is profit. 
It is through Through this 

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concept of psychic profit that 
economists are able to explain 

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actions taken by actors in the 
economy that deliberately result

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in monetary losses, monetary 
profits are merely a subset of 

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all possible motivations. 
Thank you for watching Keith and

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I don't tread on anyone and the 
libertarian Institute.