Magazine October 5, 2020, Issue

Letters

Milton Friedman (Wikimedia Commons)

Profitability Preferred

Friedman was right. Ponnuru is wrong (“Not (Necessarily) for Profit Alone,” September 7).

As a manufacturing executive for the past 30 years, I learned the necessity of staying focused on profitability and positive cash flows in order to keep U.S. factories open and operating. When I talk to employees at every level of the company, I remind them that we all want job security, and job security comes from making money.

Mr. Ponnuru’s article is written from a well-intentioned but poorly conceived perspective.

First, at no point does he address the realities of capital creation. Profits create returns to investors. Higher returns

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The Week

When Speaker Nancy Pelosi was photographed in a San Francisco hair salon, in violation of local lockdown rules, her defense was . . . interesting.

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