Economics is about the allocation of resources to alternative uses to improve economic performance. Professional economists are by no means in agreement concerning the definition of superior economic performance. Is it measured in growth in living standards, more equitable distributions of income, or financial and employment stability, or a combination of growth, equity, and stability? And even if economists can agree on the measure of performance, they typically have profound disagreements about the organizations and institutions in the economy that should determine the allocation of resources. Is it markets, states, or enterprises that, by controlling the allocation of resources, can achieve superior economic outcomes?Particularly neglected in the conventional economic debates is the role of the business enterprise in allocating resources to innovative investment strategies that, when successful, can generate higher quality products at lower unit costs while increasing the returns...

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