3
3
0
Government fails because there is no incentive to succeed. Bureaucrats are paid their wages, even paid bonuses when they fail. Private businesses are only paid, only earn profits when they succeed. What is so hard to understand about that?
Why Is America So Rich?
Posted from prageru.comPosted in these groups: 
Economics
Government
Economics Government
Posted 8 y ago
Responses: 2
0
0
0
Bureaucrats value inefficiency and democracy to increase buy in from more people in society. There is nothing inherently wrong with this idea.
Entrepreneurs value efficiency and economy to drive profit. There is nothing inherently wrong with this idea either.
Inefficiency, ineffectiveness, and dysfunction can crush the profit incentive for entrepreneurs if left unchecked.
Efficiency and unchecked capitalism can crush individual and collective rights through anarchy if left unchecked.
The video captured differences between public and private business endeavors. A fourth example is the railroads. References the book: Myth of the Robber Barons.
Entrepreneurs value efficiency and economy to drive profit. There is nothing inherently wrong with this idea either.
Inefficiency, ineffectiveness, and dysfunction can crush the profit incentive for entrepreneurs if left unchecked.
Efficiency and unchecked capitalism can crush individual and collective rights through anarchy if left unchecked.
The video captured differences between public and private business endeavors. A fourth example is the railroads. References the book: Myth of the Robber Barons.
(0)
(0)
0
0
0
Read This Next
Continue with Facebook 
Continue with Google