Profit-maximisation as the sole goal of a corporation. What is the goal of the limited liability, joint-stock company, the core institution of the contemporary capitalist economy? What implications does the answer have for such a company’s freedom to be “creative” in the way Bill Gates uses the term? The classic answer to the first of these questions, repeated often in these discussions, is that its aim is to maximise profits. This statement is not false. But it is vastly too limited.  — Creative Capitalism

Adios, Musharraf. The notion that his departure is a victory for the extremists and a setback for their enemies is wrong. The extremists are indeed cheering; but so should Pakistan’s allies. Rather than weakening the forces of moderation, Mr Musharraf’s exit offers the chance to strengthen them. — Economist

The fruits of their labours. An amazing economics experiment and how it got field workers to pick a lot more strawberries. — Slate

The really young guns. David does a pretty good impression of a grizzled old pol. A delegate from Minneapolis and full-time Barack Obama field worker, he’s on his fifth campaign, having cut his teeth working for Walter Mondale’s brief Senate run back in 2002. There’s just one thing about him that doesn’t fit the hard-boiled, seen-it-all image: Gilbert-Pederson isn’t yet old enough to vote. Time

Peter Fray

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Peter Fray
Editor-in-chief of Crikey