Show Up Obama's Ignorance on Profit's Role in a Free Economy

Barack Obama is out knocking Mitt Romney's "profit maximizing" experience as irrelevant to the job of President and bad for individuals and communities. This line of thinking is sufficiently ignorant and incompetent so as to automatically disqualify Obama from the job he seeks.  Profit maximizing, at the national level, is precisely what this nation now needs.  This is so basic that writing it feels silly. Consider that gross domestic product (GDP) is the revenue line for the United States, with its most dynamic and important component being business activity in the private sector.  GDP is "the output of goods and services produced by labor and property located in the United States."    Every one of us wants GDP to grow as large as possible - in Obama's words, to be "maximized," because in a growing economy, everyone is much more likely to find a better job.  In a shrinking or flat economy, jobs are much harder to come by.  When US residents find...(Read Full Post)