April 20th, 2005

eyes black and white

"public" vs "private"

In the "public" sector, failing administrations demand more money to do more of the failing things they do. In the "private" sector, successful companies are proposed more money to do more of the successful things they do. Guess which system works better. Of course, if you've read my paper on economic reasoning, you know that the real distinction is not between "public" and "private" but between "based on coercive compulsion" and "based on voluntary cooperation".