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A good sanity check is that a model that attempts to be comprehensive should demolish some of your previously held beliefs.

In the case of me and Galbraith, the notion that there is a strong difference between the regulated private company and the public service got a rather heavy dose of salt.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Aug 7th, 2009 at 07:18:39 AM EST
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Puts "nationalisation" and "privatisation" in an entirely new light.

The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.
by Migeru (migeru at eurotrib dot com) on Fri Aug 7th, 2009 at 07:20:44 AM EST
[ Parent ]
Yep. What matters isn't public or private, but the internal dynamics of the firm and how it relates to other firms and governments.

Of course, there is still a difference, in that the private sector is steeped in a number of cultural myths that are less strongly present in the public sector.

And, of course, there is still outrage when a public official pays himself a million € a year. Which tends to weed out one particular type of narcissistic sociopath.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Aug 7th, 2009 at 11:18:35 AM EST
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