Frederic Sautet is an Associate Professor in the School of Business and Economics at The Catholic University of America in Washington, DC. He specializes in studying market processes and entrepreneurship. He is a member of the FEE Faculty Network.
What is profit? Is it wrong to profit? Before answering that question, maybe we should start with a more mundane question: What do profits do? Or, how does the system work? In this exclusive FEE video, economist Frederic Sautet explains that profit guides entrepreneurs. If there is no profit (or loss), there is no guide.