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I've long suspected that the efficiency of the private sector is greatly exaggerated. In the minds of the public, the huge percentage of businesses that fail,

by craigyk 12y ago

I've long suspected that the efficiency of the private sector is greatly exaggerated. In the minds of the public, the huge percentage of businesses that fail, often from strategic missteps or inefficiency, don't seem to get factored in. It seems to be about comparing the Fortune 10 vs. all of government.

roganp 12y ago
That is the point, I think. Inefficient private enterprises go belly up, and therefor stop being inefficient. There is no such corrective mechanism for government organizations.
- nn3 12y ago
  This may be true for startups after the venture capital runs out, but in a lot of medium to large companies few highly profitable ventures subsidize a lot of inefficient ones. Occasionally someone may decide to start "trimming the fat": that is not different in public or private enterprises.