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It is a popular error that bureaucracy is less flexible than private enterprise. It may be so in detail, but when large scale adaptations have to be … - Joan Robinson
" "It is a popular error that bureaucracy is less flexible than private enterprise. It may be so in detail, but when large scale adaptations have to be made, central control is far more flexible. It may take two months to get an answer to a letter from a government department, but it takes twenty years for an industry under private enterprise to readjust itself to a fall in demand.
English
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About Joan Robinson
Joan Robinson FBA (30 October 1903 – 5 August 1983) was a British post-Keynesian economist who made many contributions to economic theory.
Also Known As
Birth Name:
Joan Violet Maurice
Native Name:
Joan Violet Robinson
Alternative Names:
Joan V. Robinson
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Additional quotes by Joan Robinson
The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.
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