Capitalism: Success, Crisis and Reform (PLSC 270) Dean of the Yale School of Management, Sharon Oster, explains the CardioThoracic business case. Barriers to CardioThoracic's success are discussed, including competition from other medical firms, "gatekeeper problems," other medical procedures, and difficulties understanding needs of the firm's customers. Various players in the case are identified, as well as their specific interests and potential strategies for articulating these interests. Dean Oster analyzes interest misalignments, information asymmetries, and discrepancies in values among the various players in the case. 00:00 - Chapter 1. Introduction 01:11 - Chapter 2. Case Discussion: Cardio Thoracic Systems 04:08 - Chapter 3. Cardio Thoracic Systems: Competition 14:38 - Chapter 4. Cardio Thoracic Systems: Buyer Issues 40:06 - Chapter 5. Case Summary: Cardio Thoracic Systems Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses This course was recorded in Fall 2009.
In this course, we will seek to interpret capitalism using ideas from biological evolution: firms pursuing varied strategies and facing extinction when those strategies fail are analogous to organisms struggling for survival in nature. For this reason, it is less concerned with ultimate judgment of capitalism than with the ways it can be shaped to fit our more specific objectives – for the natural environment, public health, alleviation of poverty, and development of human potential in every child. Each book we read will be explicitly or implicitly an argument about good and bad consequences of capitalism. This Yale College course, taught on campus twice per week for 50 minutes, was videotaped for Open Yale Courses in Fall 2009. We apologize, but Lecture 10 in the course, "Guest Lecture by Richard Medley: Entrepreneurship in Business Information" is not currently available through Open Courseware.
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