However the fact that the nations with most effi cient corpo- rations are generally the societies with highest utility does not prove that effi cient corporations are the cause. Other factors such as better education systems, infrastructure, social change and technological change might all be identifi ed as possible causes of economic growth. Effi cient corporations might be a product of economic growth in a nation, rather than the cause. At the level of individual fi rms it is more diffi cult to validate the economic effi ciency argument. It would be necessary to.
