Featured Challenges of the Anthropocene

Markets

Market Mechanism Explained

It seems to be fairly simple, but it raises many questions. To start with: Did Adam Smith describe a law of economics akin to a natural law, or is the market mechanism only a model or idealization that describes an...

/ April 27, 2014

Milton Friedman: Stockholder Theory.

The Social Responsibility of Business is to Increase its Profits Article by Milton Friedman (Quoted from: The New York Times Magazine, September 13, 1970.) When I hear businessmen speak eloquently about the “social responsibilities of business in a free-enterprise system,” I...

/ December 31, 2013