PROFIT MAXIMISATION—CAN IT BE JUSTIFIED?

F. E. RäDEL

South African Journal of Economics, 1969, vol. 37, issue 1, 32-41

Abstract: IN THE TRADITIONAL theory the firm's raison d'être is represented by just one single goal, viz. profit maximisation as an explanation and, in support of this, exact quantitative models by means of marginal analysis were developed indicating under which conditions profit maximisation was achieved. In fact, the models served “as a wonderful key which opens all doors to the understanding of entrepreneurial behaviour.1

Date: 1969
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