Bureaucrats and Bureaucracies
Core Thesis & Overview
Unlike private corporations, which are held accountable by competition and the profit-and-loss scoreboard, government bureaucracies lack market incentives. Financed through coerced taxation and operating as monopolies, public agencies have no skin in the game. This lack of accountability leads to job preservation, bloated budgets, inefficiency, and inferior services for citizens.
Key Takeaways & Analysis
We associate a bureaucracy with words like stodgy, slow, formal, inefficient, procedural, wasteful, and expensive. Where do we find bureaucracies? Usually in large companies and organizations. In government offices on a local, city, county, state and federal level. There may be less obtrusive bureaucracies in smaller establishments. What do bureaucrats and bureaucracies do? They have […]