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A discussion of the importance of the profit motive and freedom of competition in the efficient operation of a market economy. Includes an overview of the uniformity of profit principle, and an examination of how competition serves as both an opportunity and a disciplining agent for entrepreneurs and firms, thus promoting useful innovations while weeding out bad ideas.
If you enjoyed the podcast please consider supporting the show by making a paypal donation or becoming a patreon supporter.
https://www.patreon.com/jamesfodor
https://www.paypal.me/ScienceofEverything
By James Fodor4.8
634634 ratings
A discussion of the importance of the profit motive and freedom of competition in the efficient operation of a market economy. Includes an overview of the uniformity of profit principle, and an examination of how competition serves as both an opportunity and a disciplining agent for entrepreneurs and firms, thus promoting useful innovations while weeding out bad ideas.
If you enjoyed the podcast please consider supporting the show by making a paypal donation or becoming a patreon supporter.
https://www.patreon.com/jamesfodor
https://www.paypal.me/ScienceofEverything

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