-
[quote] http://www.investopedia.com/terms/n/normal_profit.asp#axzz221pvwyxz - Normal profit means economic profit. We know that economic profit is always greater than accounting profit. Yet if accounting is normal + new capital, that means it's greater than economic. Contradiction.[/quote] Economic profit and accounting profit are separate concepts
-
Perfect competition doesn't mean "no profit". Firms still run an accounting profit equal to: the cost of buying new capital to compete with other firms + the normal profit (which is the compensation the entrenpreneur demands to maintain their current labor effort given other opportunities to employ that labor). Firms run an accounting
-
I appreciate the response. I was going more for the first possibility, a client who signs a non disclosure agreement with the ISP. I understand that libertarians tend to support a "compensatory" (I don't think that's the right word, so forgive me) legal system where, say, someone who steals $100 must pay back $100 to the victim plus
-
I don't know if this is the right forum, but I have a question about internet surveillance in a libertarian society. Obviously privacy is an entitlement and not a right, so as long as people respect each other's property there is nothing wrong with open flow of information. So say a company wants private information on an internet service provider's