Word: profitability
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Dates: during 1990-1999
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...able to provide the textbooks based on being more profitable in other areas of the store," Murphy says. He explains that serving the needs of Harvard and MIT students is not a road to profit for the store but part of its core mission...
Wolcowitz, who is also a senior lecturer on economics, discusses an article on textbook pricing and compensation in his course, Economics 1010a, "Microeconomic Theory." The economics of the issue are that in seeking to optimize profit, publishers seek to meet the desires of their consumers, who are the professors, not really the students...
...according to Albano, the Harvard Book Store is choosing to enter this market more to build customer loyalty than to create a major new profit center...
There might arise, however, an interesting question of motive. The guilt-mongers would have us believe that no matter how beneficial the ends, a self-interested profit motive is morally compromised and somehow socially irresponsible. Quite the opposite. Self-interest is the easiest and most efficient means of coordinating, through Adam Smith's invisible hand, this vast, well-oiled machine that provides for all of us. As a philosophy, this free, consensual give-and-take for mutual benefit should be the only one acceptable to us. Any alternative, either morally or autocratically coercive which dictates who should give...
...Career Forum has become an easy target for students who are eager for more information and support in seeking positions outside of banking and consulting. However, the lack of representation at the fair by non-profit organizations has less to do with callousness on the part of the Office of Career Services (OCS) and everything to do with the structure of the non-profit world...