Hello and welcome to Business 300.

My name is Philip Kulenshov and this is 300 seconds about business.

We're all a busy people, so I have five minutes or less to get my point across.

Don't worry, I'm almost done. Only five more minutes. In order to make my point this time, I'm going to first lay a backdrop.

Imagine a free economic society, free from government involvement.

It'd have to be a place where government only gets involved as a referee to uphold justice, making sure equal weights and measures

are being used. That means that government subsidies are non-existent. Government won't give

businesses, loans, grants, or tax credits for producing a certain product. Citizens are not

coerced to purchase things they don't want, no mandated insurance, and the government only

regulates itself, not prices. I understand that Paradise is foreign to us as mayonnaise salad

dressing is to non-Russians, but it's also a necessary backdrop in order to see clearly

how business blesses people. Much of the blessing is covered up and twisted by government

involvement in private affairs. Whenever the government starts to regulate prices through

subsidies, mandated purchases, or just explicit price controls,

an unbiased pursuit for profit is highly skewed.

Prices are a communication line between the buyer and the seller, like a radio signal.

More on that later.

If something gets in the way of that signal, like subsidized products, mandated purchases,

or price controls, the seller won't hear the buyer and will be pushing an unwanted agenda. So, in a free-spending society, why would anybody spend any money?

This is not a trick question.

If you live in a society where you're not forced to buy anything, you would only buy

what you want.

...