Quote of the Day | 0211
- Technical progress comes from markets, not companies. As Jonathan Haskel has shown (pdf), most total factor productivity growth comes from firms entering and exiting the market, not from existing ones doing better. This is consistent with firms being trapped by their vintage capital.
- It is unreasonable to expect the public sector to increase its efficiency significantly. After all, if firms cannot often greatly improve their performance, despite the threat of death and competition, what hope is there that the public sector can do so?
Chris Dillow, ‘Nokia, & organizational capital’
[x]#8258 fan vrijdag 11 februari 2011 @ 12:21:05
