Profit isn’t evil…

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Profit isn’t evil.

It’s the foundation of prosperity.

Michael Chaney, the Chairman of Australian retailer Wesfarmers, made a powerful defense of capitalism and profit recently.

In his words, “Companies have to be profitable in order to continue to operate—to employ people, source products and services, provide customers what they need, and support their communities.”

He highlighted that of their $44 billion in revenue last year:
· $29 billion went to suppliers.
· $6.3 billion went to wages.
· $4.4 billion covered rent, freight, and other services.
· $500 million was paid in taxes.

Only 8%—or $3.6 billion—was retained as profit.

To be mad about what's retained in profit is to take for granted all of the jobs, products and opportunities created by the rest.

It's shortsighted.

If you want to take care of people, the only way to do so sustainably is through profitable private enterprise.

At Liberty Ventures, we echo this call to action.

Thriving businesses, large and small, are the backbone of free markets, job creation, and human flourishing.

Profit = Prosperity

Liberty Ventures is a network of 10,000+ business leaders in support of capitalism and the free market.