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The whole of the microeconomic theory of business is based on the idea that businesses maximise profit. They don’t, because doing so works for no-one. It’s a route to business failure. It’s maximizing happiness that works.
By Richard MurphyThe whole of the microeconomic theory of business is based on the idea that businesses maximise profit. They don’t, because doing so works for no-one. It’s a route to business failure. It’s maximizing happiness that works.