Log-in to bookmark & organize content - it's free! A panel discussion was held on the work of philosopher and economist F.A. Hayek. Here Professor Richard Epstein discusses Hayek's view of government ...

The expense-preference theory of the firm implies that in noncompetitive product markets, managers hire labor beyond the profit-maximizing level. This theory has recently received empirical support ...

Every business aims to earn a profit, but companies exist for other reasons as well, such as providing meaningful livelihoods and working toward social and economic well-being. Profit maximization ...