Friday, September 13, 2013

Ronald Coase - Great Short Essay

"This separation of economics from the working economy has severely damaged both the business community and the academic discipline. Since economics offers little in the way of practical insight, managers and entrepreneurs depend on their own business acumen, personal judgment, and rules of thumb in making decisions. In times of crisis, when business leaders lose their self-confidence, they often look to political power to fill the void. Government is increasingly seen as the ultimate solution to tough economic problems, from innovation to employment."


Read the whole thing - http://hbr.org/2012/12/saving-economics-from-the-economists

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