Swiss Economicblogs.org
Part II of II If this kind of theoretical reasoning seems too abstract, let us think about it more practically: Any public servant, any member of government, and even the leader of a nation, has very different motivations than any private sector decision-maker. Their financial compensation is a given and their time preference is dictated by their job description. The company owner on the other hand has no such guarantees regarding their livelihoods. Everything depends on how...
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