I’d argue profit is essential to capitalism, which of course is probably what you meant, blaming capitalism I mean. I think charging interest on debt (some of which you are essentially forced to borrow) is what is truly scandalous. Sure it makes sense when it is oversimplified, and told from the point of view of the banks who need to make an honest living by risking money, but money is created from thin air from loans, so the whole thing makes no sense imo.
Profit is older than capitalism; capitalism is a particularly egregious form of it, but it is profit itself - intentional inefficiency in the conversion of resources to usable product, for the purpose of benefiting those creating the inefficiency that I refer to.
In theory, something very close to capitalism could exist without profit - with everyone getting back only a fair and appropriate compensation for their part in the process. It’s the 'put in a little and get back infinite returns ’ part that makes capitalism specifically a problem.
I’d argue profit is essential to capitalism, which of course is probably what you meant, blaming capitalism I mean. I think charging interest on debt (some of which you are essentially forced to borrow) is what is truly scandalous. Sure it makes sense when it is oversimplified, and told from the point of view of the banks who need to make an honest living by risking money, but money is created from thin air from loans, so the whole thing makes no sense imo.
Profit is older than capitalism; capitalism is a particularly egregious form of it, but it is profit itself - intentional inefficiency in the conversion of resources to usable product, for the purpose of benefiting those creating the inefficiency that I refer to.
In theory, something very close to capitalism could exist without profit - with everyone getting back only a fair and appropriate compensation for their part in the process. It’s the 'put in a little and get back infinite returns ’ part that makes capitalism specifically a problem.