This book covers three separate and related topics: the definition and analysis of freedom, the logical foundations of capitalism and a dualistic model of human behavior that incorporates both rational and non-rational action. I provide a new and clarifying view of each topic and analyze the...

It is important to avoid using 'perfection' as a criterion to judge scientific papers. Virtually all papers that make important contributions leave many questions unanswered and many even contain errors. It is also important to distinguish the criterion used to judge the scientific process as a...

The basic problem in the conflict between political democrary and free markets is the following: individuals, you and I, can make ourselves and our families better off in two major ways: (1) By expending time and other resources operating in the private sector to produce goods and services (be...

This paper develops a theory of the press designed to explain why newspapers and other media protect their sources and certain public figures in some cases and expose personal facts about them in others. The theory suggests that the primary function of the news media is not to inform but to...

There is probably no concept so widely discussed and so dearly beloved as freedom, and yet so widely misunderstood. Freedom is something most of us want desperately for ourselves and we take great pride in claiming it as a characteristic of our society. Nevertheless, most of us have given little...

Is there a fundamental conflict between a political democracy as we know it and a free market, private enterprise or capitalist system? William Meckling and Michael Jensen of the University of Rochester, New York, believe that indeed there is, and that it is only a matter of time before the...

There is far too much concern today about the conflicts of interest between people; for example, agency theory (the conflicts of interest between agents and owners) -- a favorite topic of Jensen -- and not enough attention paid to the damage caused by an individual's conflict of interest with...

We argue here that the four factors we identify as constituting the foundation for being a leader and the effective exercise of leadership can also be seen as the foundations not only for great leadership, but also for a high quality personal life and an extraordinary organization. One can see...

There are three main elements in an organization's total strategy: its competitive strategy, its organization strategy, and its human strategy. This volume contains twelve articles written over the last twenty-five years which deal with a firm's organizational strategy. In these articles my...

I have two separate but related topics to cover today. The first is a critical appraisal of the state of accounting research, and the second is an analysis of current trends in the regulation of accounting practices and where they are leading us. Research in accounting has been (with one or two...