What economic and social conditions are necessary for businesses to thrive? In this session, James Otteson, Ph.D., discusses the ideal context for good business, covering topics such as the rule of law, the importance of stable institutions, and the necessity of free markets. Otteson then explores whether businesses have a moral purpose. Does business have a role to play in a free society besides generating profit? If so, what is it? Otteson will address these and other issues during this foundational lecture.