Freedom, Capitalism and Human Behavior Chapter 3: Applications of the Jensen Meckling Concept of Freedom
Michael C. Jensen
Harvard Business School; Social Science Electronic Publishing (SSEP), Inc.; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI)
June 30, 1999
Harvard Business School NOM Unit Working Paper No. 1999
The discussion in Chapter 1 provides a useful general introduction to the subject of freedom. We continue in this chapter to analyze the details of applications of the Jensen-Meckling definition of freedom. We begin by addressing the following question: Why are the constraints that restaurant owners impose when they are given decision rights not themselves violations of freedom?
Number of Pages in PDF File: 20
Keywords: freedom, capitalism, concept of freedom, rights, markets, freedom of exchange, freedom of expression, politics and freedom, Constitution
JEL Classification: A00, H00, K00working papers series
Date posted: October 19, 2005 ; Last revised: May 18, 2013
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