Feb 23, 2015
I liked this part of a recent Freakonomics episode interviewing the head of the World Bank:
Well, I think market forces are critical here. And sometimes people say, "Well, you know, the private sector does everything better." And I don't know that that's really the case so much as the private-sector entities that did it poorly no longer exist, right? Because they go out of business. And public-sector entities can stay in business for a very long time no matter how poor their performance is.Good take on both points. Bad businesses can and do fail. Bad government isn't allowed to fail. Maybe it should be. #business