Episode 16: Profits and Competition - The Science of Ever...

What this episode covers

A discussion of the importance of the profit motive and freedom of competition in the efficient operation of a market economy. Includes an overview of the uniformity of profit principle, and an examination of how competition serves as both an opportunity and a disciplining agent for entrepreneurs and firms, thus promoting useful innovations while weeding out bad ideas.

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Frequently Asked Questions

How long is this episode of The Science of Everything Podcast?

This episode is 38 minutes long.

When was this The Science of Everything Podcast episode published?

This episode was published on March 5, 2011.

What is this episode about?

A discussion of the importance of the profit motive and freedom of competition in the efficient operation of a market economy. Includes an overview of the uniformity of profit principle, and an examination of how competition serves as both an...

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