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This paper grounds the theory of any type of firm in the science of control and communication described as cybernetics. It is also grounded in the physiological and neurological limitations of humans to receive, store, process and act upon data to coordinate their activities. To overcome...
In 1937 Coase explored the ‘nature of the firm’ and concluded economists cannot explain why firms exist, why their boundaries are where they are, why their internal arrangements are as they are, or why their performance is so varied. Without a viable theory of the firm we educators have no sound...
Social entrepreneurship is a phenomenon that has recently attracted the attention of scholars. It has been noted that social entrepreneurs develop skills that allow them to successfully cope with current challenges in both social and business settings. Given that attention to dual objectives...
The balance between employee pay and human thriving remains theoretically and empirically under-explored at the lower-end of the wage and income spectrum. Poverty Trap theory and the Law of Diminishing Returns offer seemingly contradictory predictions of the relationship between thriving and...
I consider four waves of globalization. The first is Commercial Capitalism (1500-1800), following the voyages of Columbus and Da Gama. The second is Industrial Capitalism (1800-1950), following the industrial revolution led by the steam engine and mechanization. The third is the Era of...
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