“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.”
Quote by Joan Robinson
Work
Contributions to Modern Economics
This book is a compilation of essays and research papers that delve into the evolution and application of economic principles in contemporary society. It covers a wide range of topics, including economic growth, market dynamics, and policy implications. more
Author
Joan Robinson
Joan Robinson was a British economist renowned for her work on imperfect competition theory and labor theory of value. Her contributions have had a profound impact on the development of economics. more
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