by Jonathan Newman
What is a “non-profit” organization? Are they subject to economic calculation? What can economic theory tell us about their functions?
With Hillary Clinton under fire for (among other scandals) using the Clinton Foundation as “a kind of globalist grift,” and with promising new lines of research into social entrepreneurship by Professor McCaffrey and the economics of gifts by Professor Hülsmann, we should take a closer look at “non-profit” organizations and how they fit into the market, if at all.
Since the term includes “profit,” a good place to start would be to distinguish between two types of profit.