I'll just abbreviate that as Nl.

And when people talk about earnings of a company, this is what they're talking about.

I'm not a charity commissioner.

But when you lower the Price to Earnings you are increasing the Earnings to Price.

It's good for everybody.

And at least it'll give you a sense of how revenues, gross profit, operating profit, pre tax income and net income really are different.

This is really important to pay attention to, because so many people say, oh, a company made this much.

So you've probably heard not only the term earnings, you've probably also heard the term earnings per share.

They buy more of your service and they tell more of their friends, which leads to more profit.

This is what the owners of the company get before they pay the government.

(Laughter) But I know it's the bottom line, or one's perception of it, that motivates people in the end.

We know how much it takes to build our product.

They're generating the operating profit, and that's a very important thing to realize in the future when we talk about return on assets.

And government has certain benefits it can uniquely bestow on these markets.

I gave her aspirin. I gave her medications to relieve the strain on her heart.

We are assuming a very simple world, were the is no taxes, we have no debt, we have no intrest or things

He gave them the benefit of her insight.

And you'll hear these numbers, gross and operating profit and net profit and pretax profit, and it's very hard to understand that these are actually very, very different things, because they all have the word profit, and what does gross and operating and all that mean?

And let's say, assume if I inherited this million dollars, I didn't finance it.

She gave them the benefit of her insight.

The assets are generating this.

Kill the goose that lays the golden eggs.

And then if you subtract your costs from your revenue, or if you just add these two numbers, because this one is negative, you have your gross profit.

Advances in science don't always benefit humanity.

This gave creators a window in which to cover their investment and earn a profit.

So, let's see, you have to do 1.85.

Utilities are still rewarded when their customers waste energy.

These are the only people who really have, arguably the sophistication and the time and the monetary incentive to really look and scrutinize what management is doing.

Minus 500,000.

And this is, I think, a perfect example of what Robert Wright was talking about in those non zero sum things.

But you can see there's a problem here.

But what do you do when the two come into conflict and you're forced to make a decision that either is in Britain's interest, or the interest of Britons, or citizens elsewhere in the world?

What the financial system does, the banks, and the markets, they take that capital and hopefully they allocate it on projects that actualy put people to work, hire people, grow our GDP.

You use the distribution you get to sell more products.

With trade, there's mutual interdependency and mutual gain between parties.

The taxes will be 153,000.

War does have its benefits...

If we sell two items at that price it'll be 2 times 5 or we'll have a profit of 10.

But again, fun is not enough.

Science comes first, but business comes a close fucking second.

And then, how much am I making from the business now?

You can talk about the Humanities and that sort of thing, but let's talk about selfish things.

Don't just accept the benefits of civilization add to it.

It is a fact that giving women education, work, the ability to control their own income, inherit and own property, benefits the society.

But here you see it means very, very different things.