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Value Creation and Knowledge Building

If you could choose just one thing for a firm’s management to get right in order to survive and prosper over the long term, what would that be? Click here

An effective statement of corporate purpose should answer the two-part question: Why does the company deserve the commitment and support of its stakeholders, and what unchanging principles will guide management’s actions? Click here

The above links are to recent journal articles of mine that contribute ideas to a new Wiley book about a proposed pragmatic theory of the firm. Publication date is April 2020 for Value Creation Principles: Sustaining Value Creation through Knowledge-Building Proficiency. Theories of the firm tend to be narrow in scope and ignore how firm performance connects to market valuation. A notable advantage of the pragmatic theory of the firm is its explanation of what drives a firm’s long-term financial performance and its returns to shareholders. The more one understands long-term stock prices, the better one appreciates the mutual interests of shareholders and other stakeholders.

Public Policy

The Free To Choose Medicine proposal would enable patients, advised by their doctors, to make informed decisions about the use of not-yet-approved therapeutic drugs that have demonstrated safety and initial efficacy. This structural change to the drugs-to-patients system would accelerate innovation and is a practical way to achieve better drugs, sooner, at lower cost. Click here for a comprehensive FTCM website and here for an insightful review of the 3rd edition of my book, Free To Choose Medicine: Better Drugs Sooner at Lower Cost.


Bartley J. Madden



Copyright © 2020 Bartley J. Madden