There has never been a better time to explore the ways in which values relating to the future can be preserved and nurtured despite contemporary capitalism's tendency toward shortsighted selfishness. Prevailing beliefs in the 1980s were especially permissive regarding notions of individualism. While the concern for the future displayed by human beings throughout history may not be less today than at other times, a wide variance persists in how individuals, firms, and other institutions indicate concern for the future -- some act as though only concerned about tomorrow, others as though concerned for perpetuity. Thus it is especially relevant now to inquire what can be done, through changes in institutional arrangements or fashions of thought and perception, to encourage future-regarding tendencies.These themes are explored in twelve previously unpublished essays by people ranging from the well-known business analyst, Michael Porter, and the past President of the World Bank, Robert McNamara, to Zbigniew Bochniarz, a leading architect of "green plans" in East Central Europe since the fall of the Berlin Wall, and Lisa Gravitz, the President of Co-op America, an organization that assists U.S. businesses adopting socially responsible rules and behaviors. Other contributors include a lawyer, sociologist, political scientist, businessman-turned-foundation director, and three economists.The volume will be of interest to businesspeople, economists, environmentalists, political scientists, and ethicists.

A Nobel Prize winner's most important, groundbreaking work, collected in one volume

The Firm, the Market, and the Law gathers the most important and lasting works by Nobel Prize-winning economist Ronald Coase. Awarded the Nobel Prize in 1991 for his groundbreaking work on the significance of transaction costs and property rights, Coase continually urged his fellow economists to examine the real-world foundations on which their theories rest. This volume collects some of his classic articles probing those very foundations. "The Nature of the Firm" (1937) introduced the then-revolutionary concept of transaction costs into economic theory. "The Problem of Social Cost" (1960) further developed this concept, emphasizing the effect of the law on the working of the economic system. The remaining papers and new introductory essay clarify and extend Coarse's arguments and address his critics.