As the business awareness of my batch rises sharply with every passing day, its worth the time to read Fred L. Kent's engaging letter about Profit from Enterprise. Although a bit long, the letter has an easy flow to it so shouldn't take too long.
I was always pro-profit so the letter just reinforced my thoughts, though I now wonder whether one can generate profit in the 100 person society by:
a) Confidently predicting the availability of water from mathematical models based on reliable factors like rain tomorrow, ground water level etc.,
b) Brokering deals between the cobbler & the tailor on the ratio of the number of good to be exchanged (between the two) as a function of the water in the reservoir 6 months from today,
and so on.
Point being that, it is easy to see the profits as a cut of the common good for the society resulting from a person's enterprise.
I honestly find it hard to see societal good emanating from a & b (futures trading / derivatives etc.)!
Someone enlighten me :D
Disclaimer: Kindly excuse the author for half-baked knowledge and ambitious generalisations.
Reality Check 101
11 years ago
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