Grand Illusion
Until recently, most business people possessed a bedrock of faith in the efficiency, power, and fairness of markets. And a great deal of it was justified. When trade occurs freely, the maximum amount of wealth is created for the largest number of people. There is no more effective social system for organizing people and allocating resources than markets. But while markets are efficient, there’s nothing … [ Read more ]
Content: Article | Author: Sally Blount-Lyon | Source: STERNbusiness (NYU) | Subjects: Economics, Organizational Behavior