Quote:
Originally Posted by GP_Matt
I don't deny that there are inefficiencies in the market. The difference is the consequences. In the private sector there is competition so an inefficient company will lose market share or see their share price decline.
I will admit though that I do not work for a large organization so maybe it is just as bad or worse.
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There are consequences for government too. The most obvious of which is of course defeat at the ballot box.
Its worth noting too that the level of oversight over government efficiency, especially as provided by the media, is far greater than the level of oversight over private sector efficiency. For example, would anyone like to imagine the media uproar if senior government officials recieved the sort of annual bonuses that financial sector workers recieve?