Mission-driven capitalism for small business owners in the U.S
The “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.
|Date of creation:||Feb 2009|
|Date of revision:|
|Publication status:||Published in Cahiers du Lab.RII, Febrary 2009|
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- 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.
- 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.
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