This challenging book tackles one of the most fundamental questions
in economics: Why are commercial organizations more efficient than
organizations in the public domain? It is generally accepted that
the traditional answer (the fact that commercial organizations
maximize profits) does not necessarily hold true. Finding a
solution to this anomaly, as this book attempts to do, should
therefore be a prime concern in economics. The authors believe the
answer lies in the fact that even in a completely stable
environment, all organizations will eventually fail irreparably.
Organizations operating in the market are more efficient because,
once in decline, they are 'free to fail' and allowed to be
disassembled or even replaced. Public organizations that fail are
more often than not protected and allowed to continue even though
their efficiency is questionable. This fascinating and
thought-provoking book will provide a stimulating read for
academics and students with an interest in economics, business and
management and public policy. Contents: Preface 1. Introduction 2.
Key Concepts 3. The Historic Debate 4. Profit Maximization is Only
Part of the Answer 5. Organizational Mortality and its Fruits 6.
Causes of Organizational Failure 7. Uncontrollability 8. Empirical
Evidence 9. The Soft Constraint Syndrome 10. When Left to its Own
Devices 11. Necrosis and Apoptosis 12. Why Public Organizations?
Appendix: The Dutch Affair or the Destructive Power of
Organizational Warfare References Index
General
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