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Charities are part of a market process. "For-profit firm" and "market" are not synonymous.
by vezzy-fnord 11y ago
Charities are part of a market process. "For-profit firm" and "market" are not synonymous.
- tyre 11y agoI don't understand your first sentence. The second one is true, did my comment confuse the two? A market is a group of people. A for-profit firm provides good or services (value) to individuals in a market in exchange for money.
- vezzy-fnord 11y agoYou implied that billionaires donate to charities because markets aren't great at solving such a problem, even though charities are market institutions.