Freedom, Capitalism and Human Behavior Chapter 3: Applications of the Jensen Meckling Concept of Freedom

20 Pages Posted: 19 Oct 2005 Last revised: 18 May 2013

See all articles by Michael C. Jensen

Michael C. Jensen

Harvard Business School; SSRN; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI); Harvard University - Accounting & Control Unit

Date Written: June 30, 1999

Abstract

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?

Keywords: freedom, capitalism, concept of freedom, rights, markets, freedom of exchange, freedom of expression, politics and freedom, Constitution

JEL Classification: A00, H00, K00

Suggested Citation

Jensen, Michael C., Freedom, Capitalism and Human Behavior Chapter 3: Applications of the Jensen Meckling Concept of Freedom (June 30, 1999). Harvard Business School NOM Unit Working Paper No. 1999. Available at SSRN: https://ssrn.com/abstract=638801 or http://dx.doi.org/10.2139/ssrn.638801

Michael C. Jensen (Contact Author)

Harvard Business School ( email )

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