Growth Slowdown in Bureaucratic Economic Systems : An Issue Revisited

An Issue Revisited

Growth Slowdown in Bureaucratic Economic Systems : An Issue Revisited
Bureaucratically organized systems tend to be less efficient than economies in which agents are free to choose their output targets, as well as the means to meet them. This paper presents a simple model of planner-manager interactions and shows how bureaucratic economies can end up in a low-effort, low-growth equilibrium even though they may... READ MORE...

Publication date: January 2001
ISBN 9781451842296
$15.00

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