This Short Film Explains Why Businesses Should Maximize Value Over Profit

“Businesses get so wrapped up in minimizing expenses and maximizing profits that they can neglect the human side of economics.”


Aspiring documentary filmmaker Taylor Erickson has a theory: If businesses put the interests of their customers over short-term profits, they’ll be more successful in the long run, and society will be better off for it.

“When I was thinking about the economy, that was the first thing that came to my head,” says Erickson, 20. It’s the message at the center of his latest short film, titled “The Greatest Economics Lesson.” It recently won the grand prize in a video contest run by Econ4, a group of professors and consultants in search of a more equitable approach to economics.

In the film, Erickson recalls a time when his friend, a property investor, stopped trying to maximize profits from his properties and began to treat his tenants as partners, taking extra care to improve their houses. The result? His friend’s tenants were more satisfied with their situation, and they stayed longer and took better care of the homes—and he still made money.

“The thing that gets in the way is greed,” Erickson says in the video. “Businesses get so wrapped up in minimizing expenses and maximizing profits that they can neglect the human side of economics…Prioritize value, and you can absolutely still make money. On top of that, you’ll be making your world better by adding value to it.”

Erickson, who works at HOPE Worldwide, a faith-based community service nonprofit in Cleveland, says the lesson extends beyond the macroeconomy. The decisions parents make in spending their money, for instance, affect the wants and needs of the entire family.

And Erickson isn’t done offering lessons. For the last two months, he has channeled his interest in how society works into an attempt to make sense of how political candidates approach the prevailing issues of the election season. In a way, he says, he’s trying to spread “societal literacy,” to take a concept that’s unfamiliar and make it easy to understand. He’s working on a short film on food insecurity and hunger in northeast Ohio.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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