This new edition of The Economics of Business Enterprise provides a comprehensive survey of the theory of the firm from the perspective of New Institutional Economics. It continues to emphasise the role of the entrepreneur within the firm and the emergence of institutional responses to rent seeking. Neoclassical, Transactions Cost, Austrian, Public Choice and Property Rights perspectives are contrasted and used to analyse private governance arrangements, contemporary developments in organisational form such as ‘the sharing economy’ and the regulatory framework.

Advanced Textbooks in Economics, Volume 23: Public Enterprise Economics: Theory and Application focuses on economics, mathematical economics, and econometrics, including microeconomics, marginal-cost pricing, taxes, and income effects. The manuscript takes a look at the essential parts of public sector pricing models, normative optimum theory, and normative piecemeal theory. Discussions focus on welfare improvements with non-tight constraints, welfare -improving increases of public inefficiency, conditions for optimal prices and quantities, compensating for income effects, and conditions for optimal quality. The book then ponders on marginal-cost pricing, Ramsey pricing, rate of return regulation, and pricing with distributional aims. Topics include comparing distributional and allocative pricing, prices versus taxes, optimum Ramsey policy, influence of Ramsey prices on allocation, distribution, and stabilization, and consequences for allocation, distribution, and stabilization. The publication examines bus and underground services in London, economic theory and empirical analysis, and different approaches towards optimal quality, including empirical studies on bus and underground demand, organizational and political history, and microeconomics of the representative consumer. The book is a valuable source of data for researchers interested in public enterprise economics.

This remarkable new work reconciles two distinct disciplinary fields; the study of culture and the study of markets, to expand our understanding of the world of markets and business enterprise.

This book offers a rethinking of the burgeoning research on not-for-profit organizations and socially responsible economics. Adopting a comparative approach, the chapters explore and reinterpret the impact of social enterprises on the provision of general-interest services, work integration, microfinance, and fair trade, and show how these enterprises form the hub of an emerging economy of social responsibility. The book provides a new interpretation of social enterprises as entrepreneurial organizations that pursue social objectives and are successful due to the non-self-seeking motives of their members. This book will be of interest to postgraduate students, professionals working in the not-for-profit sector, and scholars interested in socially responsible economics. It is particularly suitable for seminars and workshops focusing on the management of not-for-profit organizations, sustainable development, and globalization.

For decades, the market, asset, and income approaches to business valuation have taken center stage in the assessment of the firm. This book brings to light an expanded valuation toolkit, consisting of nine well-defined valuation principles hailing from the fields of economics, finance, accounting, taxation, and management. It ultimately argues that the "value functional" approach to business valuation avoids most of the shortcomings of its competitors, and more correctly matches the actual motivations and information set held by stakeholders. Much of what we know about corporate finance and mathematical finance derives from a narrow subset of firms: publicly traded corporations. The value functional approach can be readily applied to both large firms and companies that do not issue publicly traded stocks and bonds, cannot borrow without constraints, and often rely upon entrepreneurs to both finance and manage their operations. With historical side notes from an international set of sources and real-world exemplars that run throughout the text, this book is a future-facing resource for scholars in economics and finance, as well as the academically minded valuation practitioner.

This book provides core knowledge and guidance for successful teaching in Business, Economics and Enterprise Education, and is based on the most up-to-date requirements. Written by experts with expertise in delivering business education in teacher training, further education, and secondary schools, it explores the nature of each subject in relation to the curriculum and offers subject-specific pedagogy to help develop teaching skills and confidence within the classroom. Including case studies and reflective questions in every chapter, the book covers the key topics across the subjects such as: Financial literacy Planning for the delivery of academic and vocational subjects The value of different qualifications and business and industry links Strategies for successful differentiation Assessment and pupil progression Teaching Business, Economics and Enterprise 14-19 is a vital resource for training or newly qualified teachers looking to deliver excellent teaching that will inspire their students and lead to successful learning.

Rev. ed. of: Free enterprise economics. 1974. Includes index.

“Groundbreaking.” —Washington Examiner Economics is primed for—and in desperate need of—a revolution, respected economic forecaster John D. Mueller shows in this eye-opening book. To make the leap forward will require looking backward, for as Redeeming Economics reveals, the most important element of economic theory has been ignored for more than two centuries. Since the great Adam Smith tore down this pillar of economic thought, economic theory has been unable to account for a fundamental aspect of human experience: the relationships that define us, the loves (and hates) that motivate and distinguish us as persons. In trying to reduce human behavior to exchanges, modern economists have forgotten how these essential motivations are expressed: as gifts (or their opposite, crimes). Mueller makes economics whole again, masterfully reapplying the economic thought of Aristotle, Augustine, and Aquinas.

A sweeping global history of entrepreneurial innovation Whether hailed as heroes or cast as threats to social order, entrepreneurs—and their innovations—have had an enormous influence on the growth and prosperity of nations. The Invention of Enterprise gathers together, for the first time, leading economic historians to explore the entrepreneur's role in society from antiquity to the present. Addressing social and institutional influences from a historical context, each chapter examines entrepreneurship during a particular period and in an important geographic location. The book chronicles the sweeping history of enterprise in Mesopotamia and Neo-Babylon; carries the reader through the Islamic Middle East; offers insights into the entrepreneurial history of China, Japan, and Colonial India; and describes the crucial role of the entrepreneur in innovative activity in Europe and the United States, from the medieval period to today. In considering the critical contributions of entrepreneurship, the authors discuss why entrepreneurial activities are not always productive and may even sabotage prosperity. They examine the institutions and restrictions that have enabled or impeded innovation, and the incentives for the adoption and dissemination of inventions. They also describe the wide variations in global entrepreneurial activity during different historical periods and the similarities in development, as well as entrepreneurship's role in economic growth. The book is filled with past examples and events that provide lessons for promoting and successfully pursuing contemporary entrepreneurship as a means of contributing to the welfare of society. The Invention of Enterprise lays out a definitive picture for all who seek an understanding of innovation's central place in our world.