LA City Council Argues That Making A Profit Should Be Illegal

A quote from L.A. City Councilman Dennis Zine, commenting on people making profits:

The people who are simply trying to make a profit are the ones messing it up

Of course, the profit motive has worked quite well since the dawn of man as a means of lifting society out of poverty.

For example, Let us say a man sells me a hot dog for a dollar.  I voluntarily agree to this because, at that moment, I value the hot dog more than I value the dollar.  The man selling me the hot dog also benefits because he values the dollar more than the hot dog.

As such transactions occur cumulatively across an entire economy, all of society benefits from the specialization of trade and the accumulation of capital which can be invested or spent later at their discretion.  If the man is able to sell a lot of hot dogs for a profit, eventually he will be able to buy a bigger restaurant, hire more workers, buy a nicer car, or take a vacation.

Councilman Zine argues that this should not be so.  He’s apparently pretty upset that someone would attempt to acquire capital above operating costs through the sale of goods.  Of course, if no one ever acquired capital above operating costs, no business would ever be able to expand, no research would ever be conducted, and no salaries would ever increase.

We would be living in a stagnant void where nothing ever progressed or changed.

To a Marxist Utopian like Zine, who has never held a private sector job in his life, yet is somehow a millionaire, the act of making profits without the use of State sanctioned coersion is something that must be destroyed at every opportunity.

The plebes must not be allowed to profit – ever – or they might get rich enough to figure out they don’t need statist rulers like himself telling them how to run their lives.