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Jul 10, 2011

Marketing Capitalism

Max:  Corporate managers extract profits from the labor of the workers.

Fred:  They are paid out of the production of the company, just as you are.

Max:  They make undeserved profits. I make a well deserved salary.

There is a big marketing problem for the terms "capitalism" and "profit". "Capitalism" was constructed by Karl Marx to be negative (capital ruling over men), and profit has come to mean "excess costs which result in a higher price".

Someone noted that we eat pork, not pig, and we eat veal, not baby cow. Names matter.

We should say "a system of free exchange" instead of "capitalism", and say "net productivity" instead of "profit".

The statement "XYZ Company had an obscene net productivity in the past year under an outrageous system of free exchange" doesn't have the same Marxist zing as using the conventional terms.

- -
Are Hospital CEOs Overpaid?
07/05/11 - Insureblog

How much does CEO pay at hospitals affect the cost of care? Are non-profit hospitals always cheaper?

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