Occasional Xs: Clueless economists / Profit (XXI)

 

#Econ

J.S. Mill and the other founding fathers never understood what #Profit is, i.e. they got the foundational economic concept wrong. But onward to Tyler Cowen, #Economists have neither noticed nor fixed the lethal blunder. For proof search his latest book GOAT for profit(s). pic.twitter.com/cbbCCQo36X

— E.K-H (@AXECorg) December 28, 2023

For details of the big picture see cross-references Profit/Distribution.