Heroes under distress

Union Jack
Dannebrog

Heroes under distress

Show full item record

Title: Heroes under distress
Author: Madsen, Stefan K.
Abstract: The following deals with the value of bankruptcy and distress to the ongoing modern capitalist economy. The answer provided is founded in classical economics, theory of the firm, financial theory, and business cycle theory. Furthermore 10 real-life cases are provided. In order to underscore the human element all cases are shown with a portrait of the business man in question. The thesis argue that 1) firms are created by the action of entrepreneurs seeking to turn uncertainty relating to demand into profit, 2) in that they are certain to create knowledge of demand and of optimal resource allocation, since firm closure testify to optimal resource allocation. However; 1) Social indignation of bankruptcy can lead to less opportunity recognition, and 2) government spending and regulation can lead to suboptimal resource allocation, 3) and a false interest rate lead to clusters of entrepreneurial errors.
URI: http://hdl.handle.net/10417/807
Date: 2009-12-28
Pages: 135 s.
Files Size Format View
stefan_k_madsen.pdf 5.721Mb PDF View/Open

The following license files are associated with this item:

This item appears in the following Collection(s)

Show full item record