What exactly is Drucker trying to say in the quotation about the economist business man? “The...

What exactly is Drucker trying to say in the quotation about the
economist business man?

“The economist ‘business man’ – the picture that underlies the prevailing economic
‘theory of the firm’ and the theorem of ‘maximization of profits’ – reacts to economic
developments. He is still passive, still adaptive … Basically this is a concept of the
‘investor’ or ‘financier’ rather than that of a manager”. (Drucker, 1968)

Expert Solution

Rahul Sunny answered 2 years ago

What exactly is Drucker trying to say in the quotation “The economist ‘business man’ – the...

What exactly is Drucker trying to say in the quotation “The economist ‘business man’ – the picture that underlies the prevailing economic ‘theory of the firm’ and the theorem of ‘maximization of profits’ – reacts to economic developments. He is still passive, still adaptive … Basically this is a concept of the ‘investor’ or ‘financier’ rather than that of a manager”.

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