Finance & Fury Podcast

Welcome to Finance and Fury, the Furious Friday edition. In this episode, I want to look at a core concept of economics – the need for monetisation/value of objects for them to exist – that is – that profits are a factor that help to maximise most outcomes in society This comes back to the very concept of a free market versus socialism – Profits or placing value on things is often pointed to as an evil of the free market – there are some merits to this – especially when looking specifically how the modern financial system is structured The financial systems quest for never ending profits has created a lot of risk – leading to economic ruin when bubbles pop This can often be conflated to include the profit drive of a sole trader, or someone who owns a small business – hence all drives for profit can be painted as selfish or evil However - in this episode I want to argue the opposite point – that profits or monetization is the very key to a functioning society – and often leads to the best and most ethical