This challenging book tackles one of the most fundamental questions in economics: Why are commercial organizations more efficient than organizations in the public domain? It is generally accepted that the traditional answer (the fact that commercial organizations maximize profits) does not necessarily hold true. Finding a solution to this anomaly, as this book attempts to do, should therefore be a prime concern in economics. The authors believe the answer lies in the fact that even in a completely stable environment, all organizations will eventually fail irreparably. Organizations operating in the market are more efficient because, once in decline, they are 'free to fail' and allowed to be disassembled or even replaced. Public organizations that fail are more often than not protected and allowed to continue even though their efficiency is questionable. This fascinating and thought-provoking book will provide a stimulating read for academics and students with an interest in economics, business and management and public policy.

Book Information
ISBN 9781781953143
Author Arjen van Witteloostuijn
Format Hardback
Page Count 192
Imprint Edward Elgar Publishing Ltd
Publisher Edward Elgar Publishing Ltd