The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals and their self interest. Austrian school theorists hold that economic theory should be exclusively derived from basic principles of human action.

The Austrian School originated in Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. It was methodologically opposed to the Historical School (based in Germany), in a dispute known as Methodenstreit, or methodology quarrel. Current-day economists working in this tradition are located in many countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School are the subjective theory of value, marginalism in price theory and the formulation of the economic calculation problem, each of which has become an accepted part of mainstream economics.

The economy of Paris is based largely on services and commerce: of the 390,480 of its enterprises, 80.6 percent are engaged in commerce, transportation, and diverse services, 6.5 percent in construction, and just 3.8 percent in industry. Paris, including both the City of Paris and the Île-de-France region (Paris Region), is the most important center of economic activity in France, accounting for about thirty percent of the French GDP.

Paris had the fifth largest metropolitan economy in the world in 2011 according to the Brookings Institution and second in Europe. The Paris Region is Europe's richest region with a GDP (PPP) at over $1 trillion equivalent to that of the Netherlands or Indonesia and higher than countries like Switzerland, Sweden or Saudi Arabia and United Arab Emirates combined , ahead of North Rhine-Westphalia in Germany but slightly behind Greater London in the United Kingdom. It has the highest per capita GDP of any French region and the third highest of any region in the European Union. (Full article...)

"Corporate managers have directed a great deal of attention to defining their businesses as a crucial step in strategy formulation. Theodore Levitt, in his classic 1960 article in HBR, argued strongly for avoiding the myopia of narrow, product-oriented industry definition. Numerous other authorities have also stressed the need to look beyond product to function in defining a business, beyond national boundaries to potential international competition, and beyond the ranks of one’s competitors today to those that may become competitors tomorrow. As a result of these urgings, the proper definition of a company’s industry or industries has become an endlessly debated subject.

One motive behind this debate is the desire to exploit new markets. Another, perhaps more important motive is the fear of overlooking latent sources of competition that someday may threaten the industry. Many managers concentrate so singlemindedly on their direct antagonists in the fight for market share that they fail to realize that they are also competing with their customers and their suppliers for bargaining power. Meanwhile, they also neglect to keep a wary eye out for new entrants to the contest or fail to recognize the subtle threat of substitute products."

—Michael Porter, How Competitive Forces Shape Strategy, 1979

• ... that "gig" in "gig economy" comes from the slang term for individual appearances by performing artists?
• ... that Daniel Davis was the first person in the United States to work with gold and silver electroplating as a business?
• ... that American lumber businessman and politician John Barber White funded a scholarship at Williams College in memory of his son?
• ... that only months after going out of business, Milkrun relaunched?
• ... that Peachtree Arcade, a shopping arcade in the U.S. state of Georgia, was conceived after a local businessman visited the Cleveland Arcade?
• ... that Chicony, known primarily as a keyboard manufacturer, entered the computer-manufacturing business with the Rabbit 286 in 1988?

June 17:

• 1956 - Percival Perry, 1st Baron Perry, English motor vehicle manufacturer who was chairman of Ford Motor Company Limited for 20 years from its incorporation and led the establishment of Slough Estates, died on this day.

• ...that former Harvard University president Lawrence Summers served as the World Bank Chief Economist from 1991 to 1993?

• ...that André Meyer quit school at age 16 to work as a messenger boy, and was later described as "the most creative financial genius of our time in the investment banking world" by David Rockefeller?

• ...that Valrhona, a company based in the small town of Tain l'Hermitage in the Rhône Valley in France, is one of the world's leading manufacturers of high-quality chocolate?

• ...that it is estimated that more than 85 percent of all business information exists as unstructured data, commonly appearing in e-mails, memos, reports, letters, presentations and Web pages?

• ... that the Automotive Electronics Council is an organisation based in the USA that sets qualification standards for the supply of components in the automotive electronics industry.

• ... that Hollywood accounting is the practice of distributing the profit earned by a large project to corporate entities which, though distinct from the one responsible for the project itself, are typically owned by the same people, with the net result of reducing the project's profit by a substantial margin, sometimes even eliminating it altogether.

• ... the Consumables model is another name for the Razor and blades business model?

Wikinews Economy and business portal

• July 21: Technological University Dublin senior lecturer Dr Lorcan Sirr speaks to Wikinews on housing market in Ireland
• July 15: California governor signs new state budget, eligible Californians to get stimulus payments
• July 4: 130 OECD countries agree to back global corporate tax rate
• June 30: 'Each makes the other more difficult to recover from': University of Sussex professor L. Alan Winters speaks to Wikinews on trade, COVID-19, Brexit
• June 16: Wikinews interviews Victor Kline, leader of newly registered The New Liberals party in Australia
• April 23: Irish Finance Minister Donohoe criticises OECD's global minimum corporate tax rate
• April 17: People protest in Berlin against German Court overturning five-year rent cap
• March 5: Chancellor Rishi Sunak announces UK budget 2021
• February 10: Disney to shut down Blue Sky Studios, animation studio behind 'Ice Age'
• January 24: World Trade Organization declares US tariff hike illegal, rules in South Korea's favour