Wednesday , August 23 2017
Home / Miles Kimball / On When the Private Sector Being Smarter than the Government Is a Problem

On When the Private Sector Being Smarter than the Government Is a Problem

Summary:
Link to Sarah Rawlins's CEPR blog post above from which the quotation below is taken:We have all heard the argument from conservatives about the benefits of relying on the private sector rather than the government. Private companies are fast moving and can respond more quickly to changing conditions and technology. By contrast, the government is slow and bureaucratic. There is more than a bit of truth to this story.So what happens when we have the slow-moving bureaucratic government making payments to fast moving dynamic insurers in a program like Medicare. Well, all good believers in the superiority of the private sector will expect the insurers to rob the

Topics:
Miles Kimball considers the following as important:

This could be interesting, too:

Paul Murphy writes Markets Live: Wednesday, 23rd August, 2017

Matthew C Klein writes America’s Governmental Accounting Standards Board is giving ruinously bad advice

Alexandra Scaggs writes Of crypto-Apples and other fantastical fruit…

Siona Jenkins writes Opening Quote: WPP tries to sell a cut in sales guidance

Link to Sarah Rawlins's CEPR blog post above from which the quotation below is taken:

We have all heard the argument from conservatives about the benefits of relying on the private sector rather than the government. Private companies are fast moving and can respond more quickly to changing conditions and technology. By contrast, the government is slow and bureaucratic. There is more than a bit of truth to this story.

So what happens when we have the slow-moving bureaucratic government making payments to fast moving dynamic insurers in a program like Medicare. Well, all good believers in the superiority of the private sector will expect the insurers to rob the government blind. And this seems to be the case.

Miles Kimball
Miles Kimball is Professor of Economics and Survey Research at the University of Michigan. Politically, Miles is an independent who grew up in an apolitical family. He holds many strong opinions—open to revision in response to cogent arguments—that do not line up neatly with either the Republican or Democratic Party.

Leave a Reply

Your email address will not be published. Required fields are marked *