by Christopher Westley. Once upon a time, I developed a theory that we have much lower expectations for public-sector performance than we do for private-sector performance. We saw this in accounting standards that — when applied to Enron — resulted in market forces shutting that firm down, while the Department of Defense loses billions of dollars ... MOREWhy Are People So Forgiving Of Government Failure?
by Christopher Westley. Once upon a time, I developed a theory that we have much lower expectations for public-sector performance than we do for private-sector performance. We saw this in accounting standards that — when applied to Enron — resulted in market forces shutting that firm down, while the Department of Defense loses billions of dollars ... MORE