1. Privatization
... idea that public ownership leads to the pursuit of objectives that detract from economic welfare maximization (Willig, 1993; Boycko, Shleifer and Vishny, 1996). The combined force of the government failure literature, the principal-agent, property rights and public theories, conclude that enterprises operating under public ownership will be less efficient compared to their private sector counterparts. The principal-agent critique relies ... ...
- Word Count: 1499
- Approx Pages: 6
- Grade Level: Graduate