Walter Williams: “Whenever the profit incentive is missing, the probability that people’s wants can be safely ignored is the greatest. If a poll were taken asking people which services they are most satisfied with and which they are most dissatisfied with, for-profit organizations (supermarkets, computer companies and video stores) would dominate the first list while non-profit organizations (schools, offices of motor vehicle registration) would dominate the latter. In a free economy, the pursuit of profits and serving people are one and the same. No one argues that the free enterprise system is perfect, but it’s the closest we’ll come here on Earth.”
Business Opportunities Weblog on April 1st, 2005 at 8:03 pm
The Entrepreneur As American Hero, Revisited
On the advice of my father, I reread through Walter Williams speech that I mentioned yesterday and I discovered that I missed this gem: In truth, in a free society, income is earned through pleasing and serving one’s fellow man….