The Foundation of Firm Existence

Appreciating Adam Smith’s “Invisible Hand” contributions to market coordination based on supply, demand, and price, and understanding his argument of allowing markets to allocate goods and resources based on individual incentives, I pose the question, “How much value is created by managerial competency and organized business entities?”  In other words, why do firms exist?

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Top 6 – January 2012

To Western Politicians: We elected you to make decisions. Decisions require tradeoffs and compromise. Now do your job. U.S. and European countries alike need a realistic taxes and budgets. And none of this can wait until after elections. Hamlet Act 1, Scene 3:   “Neither a borrow nor a lender be.” Having a lot of “users”…

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