The trouble with profit maximization*
DOI link for The trouble with profit maximization*
The trouble with profit maximization* book
I have finally concluded that the trouble stems from the assumption in most
college economics texts and college classrooms that the objective of a business is
to maximize profits. Unhappily, this assumption is not confined to the campus.
Countless writers of fiction and non-fiction have seemingly taken it for granted
that management’s purpose is to maximize profits. Lawyers, labor union
spokesmen, and government officials often indicate that they share the same belief.