Do you agree with the government minister's view that: The public sector always produce goods and services more efficiently than private owned business. Justify your answer?
Answers
Evidence from low- and middle-income countries suggests private provision is more efficient than public provision. ... Greater private sector efficiency is attributed to the ability to set lower pay and to recruitment autonomy, as well as the market-like competitive conditions in which they operate.
Both the public and private sector have a role to play. For general businesses without externalities, the private sector is likely to be more efficient and better at job creation. Reducing the scope of government spending could create more private sector opportunities f
as more attractive, even at a time when spending cuts are anticipated." ... Some 45% of those questioned by IFF believed they would be better off in the private sector, compared with 33% of private-sector workers who thought they would be better off in public services.Private companies do not provide public goods, because they can not turn a profit off of the good.The American Enterprise Institute in 2011 said federal pay is about 14 percent higher, on average, than private sector wages. ... Federal employees, on average, earn about 34.07 percent less than their counterparts in the private sector, according to their latest calculation.
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