the profit television show
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the profit television show

If classical economists have interpreted the "market" as "laissez-faire", coase has answered the question of how to achieve "laissez-faire" or "price mechanism". Create a safe environment to support innovation - inevitably, some of the bubble will burst, some milestone will not be achieved, some projects will evaporate, investors hit hard, makes people calling for regulation. But if we regulate the old structures and paradigms, we will stifle innovation. Gasoline is the largest oil product consumed in the United States last year, according to the U.S. energy information administration (EIA). Last year, gasoline consumption averaged about 9.3 million barrels a day (391 million gallons) a day, a record high, about 47 percent of U.S. oil consumption. The differences between the two countries are significant because the basic national conditions and economic system of the two countries are fundamentally different. Planned economy and planned economy into market economy, the stage because the traditional pattern of economic and financial structure, imperative the mandatory administrative regulations directly effective, fast, accurate, coupled with the central bank's marketization operation ability is limited, the lack of experience, the benchmark interest rate to today still become society's widespread interest rate decision criteria. The fed is highly marketable, with each "federal funds rate" adjusting to market results after open market operations. 304/5000 4. Universality. The actual planning involves each manager and employee in the organization, an organization's overall goal is determined, managers at all levels in order to achieve the organizational goals, make the level of organizational work smoothly, all need to make a plan. In the face of market failure, coase has given the opposite answer: external-utility problems can be solved by explicitly using the market, without government intervention. And zhang wuchang is more absolute, he said that there is no so-called external utility, there is only unclear property rights. Anyway, coase brought revolutionary innovation to market concepts. He made it clear that the key to the market was not the "price mechanism" of impersonal machinery, but the power of participants in economic activity.