This paper utilizes the Pragmatic Theory of the Firm to better understand the process that delivers economic progress reflected in rising living standards. Section One explains how firms build knowledge and create value. Section Two introduces the Knowledge Building Loop to clarify and delineate...

Life-Cycle Reviews would improve management/board capital expenditure decisions and fundamentally upgrade investor communications. The key is a reality-based analysis of the firm's major business units grounded in the life-cycle framework. The focus is on why business-unit reinvestment should...

A Shareholder Value Review (SVR) is proposed as the best way for boards of directors to explain to shareholders how management's performance in maximizing shareholder value is monitored by the board. If the SEC would require boards to do an SVR, that would motivate both management and the board...

The FDA is tasked with opposing goals which demand tradeoffs - the time and cost of clinical trials to assure safety and efficacy while also encouraging speedy drug advances and affordability. On top of that, there is no feedback mechanism to inform the FDA of the effectiveness of their tradeoff...

I propose to end the FDA monopoly on market access to drugs and medical devices. I believe a "second track" could be opened for consumers to access those products - a track that would allow informed consumers to purchase drugs that have undergone only the first phase of the three-phase FDA...

Advances in brain science indicate that among human genetic inheritances is the brain's capability for forming and re-forming neural circuits that constitute our perceptions of the "world out there." For the most part, each of us goes about daily life taking such perceptions as true renditions...

A strong case can be made that the key determinant of a firm's long-term performance is its knowledge building proficiency. Knowledge building and value creation are opposite sides of the same coin. As such, this PowerPoint lays out six key learning objectives. First, knowledge building is the...

A theory helps us to see the world better and ask better questions. In this paper, the Pragmatic Theory of the Firm clarifies the firm’s purpose and showcases the benefits of viewing a firm as a holistic system in which knowledge building is the critical determinant of long-term performance....