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Today’s post promises to be “profitic.” 🙂 We are exploring the concept of profit. What is profit?  What is its role in business and the economy?   Unlike most economies of the past, most of us earn income by engaging in a narrow range of work that contributes to the production of goods and services. We use…

Today we turn to the topic of wealth. Let’s start with a simple question: What is wealth? The answer may not be as obvious as it seems. Consider the following.   The Nature of Wealth   How much would you say a diamond is worth? Our first inclination is to determine its size, cut, color,…

“Love your neighbor as yourself.” This injunction is mentioned once in the Old Testament (Lev. 19:18) and seven times in the New Testament (Matt. 19:19, 22:39; Mark 12:31; Luke 10:27; Rom. 13:9; Gal. 5:14; James 2:8) It is the core Christian ethic for relating to others. The antithesis of loving others is selfishness. A central…

This series is by Michael Kruse and it concerns economics — a basics in economics. Most of us, and I include myself, no next to nothing about how economics work and so this series is here for the education of all of us. (Thanks Mike.) Division of labor, mechanization, and trade has given rise to…
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