Several decades ago, Ronald Coase, a world-renowned economist, introduced the concept of “transaction cost” into economics. His profound research showed that human beings invented economic institutions in order to reduce the transaction cost of doing business. Low transaction cost made business more efficient and productive. Coase won the 1991 Nobel […]
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In recent years, the world has invented a very powerful and effective approach to address the planet’s greatest challenges. It is the coming together of civil society, government, and business, especially social entrepreneurs, around a challenge where they combine their unique talents and resources to create innovative solutions. This approach […]
Since the end of the 20th century, tens of thousands across the Philippines have been hoping for a real development breakthrough. They have been fervently wishing that the country’s globally-recognized blueprint for sustainable development, Philippine Agenda 21, considered by the UN as a global best practice, would be earnestly implemented […]