Govt. Lec. 1 Notes - Public sector- govt. Remember: 1. No...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Govt. Lecture Notes 1 01/20/12 Govt. exists: provide services, solve problems, b/c no incentive to provide you an army, ensures nothing toxic in water, societal & economical problems for which no incentive for market to solve 1. Efficiency- market does better 2. Reliability- govt. does better American govt. never designed to be efficient, govt. provides most reliable stable framework for doing business & interacting in society Private sector- capitalist competition
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Public sector- govt. Remember: 1. No such thing as govt. be more efficient 2. Sometimes best govt. not be efficient 3. You can never have efficiency & reliable-No such thing as efficient & reliable system- closest attempt- student loans You want govt. to control- research & technology Ex. Internet- creation of Dept. of Defense-Want b/c not worried about profits Privatized garbage collection- better b/c incentives US Const. purposely designed to be inefficient however never fail you...
View Full Document

Ask a homework question - tutors are online