Karl Marx disagreed with most of Adam Smith s perceptions, but he agreed with this one. Adam Smith and Karl Marx are long dead, but their perceptions live on. While we have moved from a manufacturing economy to a service economy and, now, to an information economy, people still think that charging for manufacturing is more fair than charging for services, and that charging for services is more fair than charging for information. Venture capitalists make their contribution by providing entrepreneurs with the funds they need to bring ventures to fruition. Corporate financial analysts make their contribution by distinguishing efficient business operations from failing ones.
Investment advisors make their contribution by helping people plan for their financial future.
Competence is crucial for all contributions. Our students develop the foundations of competence in finance courses at SCU such as Financial Management, International Financial Management, Financial Policy, Investments, Money and Capital Markets, and Ethics and Finance. But the offer is an ultimatum, not open to negotiation. Michael can accept Jane s offer or reject it, but he cannot counter-offer. If Michael accepts Jane s offer, I will divide the money between him and Jane.