This is the Cato Daily Podcast for Tuesday, June 23rd, 2015.

I'm Caleb Brown.

Capitalists, those who deliver value to consumers in hopes of earning a profit,

have got their messaging all wrong.

That from Whole Foods founder and CEO John Mackie,

Mackie says that free markets and private property deliver incredible value to the world.

So why don't defenders of free markets seize the moral high

ground?

The for-profit sector has been basically branded or

stereotype by its enemies, its critics, as fundamentally

selfish and greedy and only interested in making money only interested in profits.

And of course businesses have to make profits and profits are a good thing.

And yet that's not necessarily why business exists, I mean business exists to create

value for other people. And through exchanging that value they create, goods and services, then the person that's exchanging is making

a profit or they wouldn't make the trade and the business that's creating the products or services

is also making a profit as well.

Profit is a good thing.

But that's not necessarily why it exists.

And unfortunately, it's been stained as only selfish and greedy and as if somehow or another

that exists only in business and doesn't exist in other sectors of our society.

Sure they're bad actors in business, but they're bad actors in

in politics and law, in medicine, in education, and all the other areas.

...