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I won 19 Emmy Awards by reporting a myth: that business constantly rips us off -- that capitalism is mostly cruel and unfair.
I know that's a myth now. So I was glad to see the publication of "The 5 Big Lies About American Business" by Michael Medved.
I invite him on tomorrow's Fox Business Network show to talk about that.
"You can only make a profit in this country by giving people a product or a service that they want," he says. "It's the golden rule in action."
Medved used to write about...
Myths About Capitalism
by giving a good or service that they want". The use of the word only is
preposterous! Does the federal reserve bank and all its member banks
profit from inflation? Yes they do. Am I a consumer who wants their trash
currency? No, I am forced by legal tender laws to use this currency. This
is a typical example of a monopoly, and in this day and age most of the
natural resources have been monopolized so that in order to survive (well
comfortably anyhow) we have no choice but to do business with the leeches.
Then it goes on to say that there is no leisure class and the more money
you make the more work you are doing. ...