Mission-driven capitalism for small business owners in the U.S
AbstractThe “use value” of assets in the classical paradigm allowed distinction between those held by capitalists and those held by rentiers. Most small businesses in the United States operate more akin to the model of rentiers than capitalists. Ironically, long run equilibrium in the Marshallian competitive system between total revenue and total cost describes both the small business and the nonprofit sectors. Nonprofits, of course, are mission driven, owned publically rather than privately, and governed by appointed boards of directors. It is argued that analogous to nonprofits, privately owned small businesses in the United States should become mission driven.
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Bibliographic InfoPaper provided by Laboratoire de Recherche sur l'Industrie et l'Innovation. ULCO / Research Unit on Industry and Innovation in its series Working Papers with number 208.
Length: 10 pages
Date of creation: Feb 2009
Date of revision:
Publication status: Published in Cahiers du Lab.RII, Febrary 2009
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More information through EDIRC
capitalism; small business owners;
Find related papers by JEL classification:
- P12 - Economic Systems - - Capitalist Systems - - - Capitalist Enterprises
- M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-23 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Graham, John R. & Harvey, Campbell R. & Rajgopal, Shiva, 2005.
"The economic implications of corporate financial reporting,"
Journal of Accounting and Economics,
Elsevier, vol. 40(1-3), pages 3-73, December.
- John R. Graham & Campbell R. Harvey & Shiva Rajgopal, 2004. "The Economic Implications of Corporate Financial Reporting," NBER Working Papers 10550, National Bureau of Economic Research, Inc.
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