Miriam Gerstein

Spirituality, Creativity and Vision as Alternatives to Neo-Classical Economics in Accounting and Business Education

The “Chicago School” of economic thought, led by the intellectual descendants of Milton Friedman, has become the dominant paradigm not only of economics but of all social sciences, including business and accounting. According to the Chicago School, the manager’s sole concern should be the maximization of shareholder value. After the financial crisis, business professionals and educators have been looking for an alternative paradigm, and Spirituality presents such an alternative paradigm. A spiritual perspective recognizes the interconnectivity of all members of society and advocates for social solidarity. Just as importantly, a spiritual perspective promotes creativity in finding solutions that support both long term profits and social solidarity. Accountants must rethink their role from that information providers to that of creative counselors.

Innovative Pricing Strategies: A Primer

This article demonstrates how various concepts derived from marketing and behavioral economics can be useful to accountants and others whose advice is sought on the setting of prices. In particular, it shows that a one-price policy may not always be ideal. Using price as a strategic tool can increase both profit and customer satisfaction. Pricing strategies discussed include segmented (tier) pricing, pay-what-you-want pricing, pricing digital products, and peak-user pricing. The ethical implications of pricing decisions are also discussed.