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1. It is generally agreed that the current workers have a very small probability of being employed by the same firm throughout their work lives. In previous generations it was common for people to have just one employer. Is more rapid turnover among employees beneficial to the firm? To its employees? Explain.
2. A famous Austrian economist, Ludwig von Mises, said this about game theory in 1949, shortly after it had been developed by computation scientists and economists: “There is not the slightest analogy between playing games and the conduct of business within a market society. The card player wins money by outsmarting his antagonist. The businessman makes money by supplying customers with goods they want to acquire. . . . He who interprets the conduct of business as trickery is on the wrong path.” What did von Mises mean by this statement?
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