Is profit really the best measure of business success?

I’ve spent 50 years studying profit as an accountant, economist, and political economist. And here’s the truth: almost no one understands what profit really is, least of all mainstream economists. In this video, I explain why profit is not just income minus expenses, why external events matter more than you think, and why our government has no concept of capital worth preserving. This isn’t just about accounting. It’s about building a new system where people and planet come first.

TRANSCRIPT
A transcript for this video is available at: https://www.taxresearch.org.uk

IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO
If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. https://www.taxresearch.org.uk/Blog/2...

HOW TO SUPPORT US
Please consider donating: https://ko-fi.com/taxresearch

ABOUT RICHARD MURPHY
Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’.

This video was edited by Thomas Murphy.

RICHARD MURPHY ON BLUESKY:
https://bsky.app/profile/richardjmurp...

OR

ON MY BLOG: http://www.taxresearch.org.uk/Blog/

HIT SUBSCRIBE & GET NOTIFICATIONS
Subscribe and get notified of new videos released.
INTRODUCTION:    • Welcome to my channel - Richard J Murphy -...  

PLAYLISTS:

The Wealth Series
   • The Wealth Series  

Ecenomics
   • Ecenomics  

Britain
   • Britain  

Tax
   • Tax  

MMT
   • MMT  

Money
   • Money  

Climate Change
   • Climate Change  

USA
   • USA  

Labour
   • Labour  

The Trump Administration
   • The Trump Administration  

#WhatIsProfit #ProfitExplained #ProfitMyth #CapitalMaintenance #AccountingMatters #EconomicIllusions #ProfitVsWealth #ProfitIsNotIncome #BrokenEconomics #AccountingCrisis #GovtAccountingFail #ProfitMaximisationMyth #IdeologyNotEconomics #ExploitativeEconomy #AccountingForPeopleAndPlanet #SystemicAvarice #PeopleAndPlanetFirst #SociallyUsefulAccounting #SustainableCapital #HumanCapitalMatters #EnvironmentalAccounting #PurposeDrivenEconomics #FairEconomyNow #EconomicsForGood #AccountingExplained #PoliticalEconomy101 #AccountingForChange #UnderstandProfit #RealEconomics #AccountingEducation #ReformAccounting #ProfitVsPurpose #RedefineProfit #ReformEconomics #FutureFocusedAccounting #EconomicsWithValues #ChallengeProfitMyths #EndProfitIdeology #AccountingCanSaveUs #MakeProfitFair









Ask ChatGPT