Failures may lead to ultimate success in both nature and business. Just as dynamic ecosystems depend on death to replace senescent organisms with vigorous growth, the termination of uneconomic activities is essential to wealth creation. This paper explores the benefits of failures, and uses...

Calls for corporate social responsibility are widespread, yet there is no consensus about what it means; this may be its charm. However, it is possible to distinguish the fiduciary obligations owed to shareholders, as expressed by Milton Friedman, from all other paradigms of corporate...

Calls for corporate social responsibility are widespread, yet there is no consensus about what it means; this may be its charm. However, it is possible to distinguish the fiduciary obligations owed to shareholders, as expressed by Milton Friedman, from all other paradigms of corporate...

Failures may lead to ultimate success in both nature and business. Just as dynamic ecosystems depend on death to replace senescent organisms with vigorous growth, the termination of uneconomic activities is essential to wealth creation. This paper explores the benefits of failures, and uses...