Word: economisters
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...policy and business development.” BOTTOM OF THE PYRAMIDAfter studying the role of business in international development, Chyau, a native of Taiwan, and So, a native of Hong Kong, began thinking about starting a social enterprise last March. Chyau and So say they were inspired by Indian economist C.K. Prahalad’s 2002 article “The Fortune at the Bottom of the Pyramid,” which suggested that doing business with the world’s poorest 4 billion people can be profitable to the firms and beneficial to the poor...
...Mackey’s rapid ascent to minor celebrity status—fueled by his company’s even faster climbing share price—has provoked a flurry of profiles in publications like The Economist and USA Today, all puzzling over his seemingly contradictory views. Can you have a social conscience and love the market as well? Certainly. Can you do it without falling into a contradiction? That is more difficult to answer...
...tree. For most, free markets unhindered by governmental interference—labor regulations, taxes, and the like—take precedent over old growth forests. Managers do not usually build cost-inefficient solar panels to minimize their company’s environmental impact. They adhere to Nobel Prize winning economist Milton Friedman’s famous saying that a company’s only “social obligation is to increase its profits.” To them, incantations of the collective good are just sweet-sounding claptrap, and morality is viewed as a matter of personal preference...
Back at Harvard, the iconoclastic economist pushed for more Faculty involvement in University governance...
EXTERNAL LINK: "The World According to Galbraith"; the economist and his biographer, Richard Parker, at the Institute of Politics (VIDEO...