More gruel
Category: <span>Future of Democracy</span>

Markets Produce Excellent Failures

If you want to ruin the power of businesses to innovate and succeed, just insulate them from competition and protect them from failure. Likewise, if you want to see public institutions adapt some of the habits and characteristics of the best private entities, expose them to forces that weed out poor performance and open up massive new channels for decision-making and experimentation.