"Size of industry, concentration of market, or production notwithstanding, the consumer is best served when the businessman is completely free to pursue his profit goals."
John A. Pugsley (1934-2011)
How do we know this is true?
Because Adam Smith, circa 1776, said so?
What did Smith say? That the butcher, baker and beer maker do not provide our dinner because they care so much about our families. They do so out of self interest.
What? Self interest? How selfish!
Not really! Not self ISH at all. The better the product they produce for sale, the more people will come back to buy it. The more people come back, the greater the profit.
The greater the profit the better the station in life for the butcher, the baker and the beer maker.
SO IT BEHOOVES THEM TO BETTER SERVE THE CONSUMER!
How do we know this is a true principle? It was said in the Bible, recorded by Luke, 6: 38 - spoken by Jesus, when speaking about the concept of judgment, who said: "Give, and it shall be given unto you; good measure, pressed down, and shaken together, and running over..."
If you were buying a load of flour from Jesus's bakery, how would you receive it? Would He cheat you on the weight, quantity, quality, product care, customer service, return policy, or anything else that would affect your life or His bottom line?
NO. Now you must consider why?
Simply because His flour would be none of those things, and you would receive it as he described it above. YOU WOULD GET MORE THAN YOU EXPECT! AND YOU WOULD COME BACK TIME AND AGAIN!
Adam Smith considered why. And the reason, in his view (NOT considering the spiritual implications) is the betterment of lifestyle! The bottom line is PROFIT. That is the true principle, economically speaking.
And so, leaving the businessman unfettered and not stultified by gubment, graft and local officials, what happens? The consumer is better served. No, according to Pugsley, BEST served.
And what, are we told, makes up about 60% of our GDP? Oh, yeah, the consumer...