The Real Meaning of 'Profit'

The true meaning of  'profit' is unknown by most people because they seek riches and want 'more and more profits' as time passes. On the Internet, the word profit is defined as 'a financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity. Any profit that is gained goes to the business's owners, who may or may not decide to spend it. (click)  I disagree with this definition because profits must serve the people of a nation.

When I worked at the U.S. Department of Justice, I included the word  'profit' in a new system that would use public and private sector organizations in order to save the U.S. police from criminals who use guns. The police are saved with 'kevlar vests.' In the first field tests during the Christmas season in the early 1970s, the heart of a Seattle police was hit by a criminal's bullet. He was saved. As seen, profit applies only to private organizations.

After this Seattle event, a gentleman came to my office in order to talk about this system.  Because I said that 'profit' means 'a cost of doing business,' he said that many governmental personnel and businesses do not think this way.

Profit is a cost of doing business.  It is a cost because it s needed f'or new research and the development of new products.' My definition of profit belongs only to the American System of Economics. (click)  The meaning of  'profit for owners or stockholders' is used in the British System of Economics by U.S. economists and the U.S. government.

The definition of 'profit' has been changing over time. Rather than only heaving labor and factory costs in the 1950s, today's costs have increased to pay for owner bonus,costs, CEO costs, personal bonus costs, lawyer costs  stockholder costs, insurance costs, and inflation costs..  These new costs might explain most of the growth of debt in the USA.