Comparing a process of laborand capital-augmenting technical change directed by capitalists’ maximization of profits with a counterfactual in which decentralized innovation decisions are governed by noncapitalist property relations, I claim that if the two economies start from the same technology and capital stock there’s a date T such that after T per-capita consumption is always strictly grea...

This paper develops a general model of physician behavior with demand inducement encompassing the two benchmark cases of profit maximization and target-income behavior. It is shown that when income effects are absent, physicians maximize profits, and when income effects are very strong, physicians seek a target income. The model is used to derive own and cross-price expressions for the response...

Economic profit is produced by entrepreneurs, those special individuals able to detect and seize as yet unexploited market opportunities. In general capitalist firms manage to deliver positive profits even in the most competitive environments. They can do so thanks to internal entrepreneurs, a subset of their employees able to drive change and develop innovation in the workplace. This paper arg...

With the changing financial environment, financial goals are constantly changing. In the course of development of financial theory, there were numerous financial goals theories, which are mainly "profit maximization, shareholders’ wealth maximization, and stakeholders’ wealth maximization." These financial goals basically reflect the business requirements of the market environment, the adaptati...

We propose a dynamic model for studying the time evolution of fish stocks in an environment divided into two adjacent zones with different fishing policies. We analyze two particular harvesting methods: constant fishing effort and profit maximization. In this case, some agents engage in competition based on maximization of individual profit whereas others cooperate. The asymptotic behavior of t...