Discussion Paper An Assessment of the Criticisms of the Principle of Profit Maximization

Mukaria J. Itang'ata

Journal of Interdisciplinary Economics, 2011, vol. 23, issue 1, 81-84

Abstract: This brief paper outlines the basis of the criticisms of the principle of profit maximization. Further it attempts to assess the validity of the criticisms of the principle of profit maximization as it relates to theory of the firm. Its conclusion is that there is no evidence of a single and comprehensive alternative model or theory that inclusively cover firms working under different market conditions such as perfect competition, monopoly, monopolistic competition and oligopoly.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jinter:v:23:y:2011:i:1:p:81-84

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