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Basic precepts of economic and financial thinking

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Peter Thiel is acontrarian who supports contrarian thinking and action. He believes that many of the standard lessons we are taught at school yield mediocre performance at the individual, group, enterprise and national level. The highest performing students at prestige universities, such as Stanford University (Thiel's alma mater) are molded into being conformists - often the top students go into high status, high paying fields such as law, consulting and finance - careers that do not add value to the economy or society. One of his most controversial views is that competition is not generally good for individuals, groups, enterprises and societies.

This view goes against the most basic precepts of economic and financial thinking.

a. Explain Thiel's critique of competition. Do you agree with his perspective? Why or why not?

b. Explain Theil's statement that companies should strive to become monopolies. Do you agree with his perspective? Why or why not? Please illustrate your points with examples

Reference no: EM133178527

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