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Quote by Walter Bagehot

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The English Constitution ... Reprinted from the

A comprehensive analysis of the English constitution, exploring its historical development, legal framework, and political implications more

Author

Walter Bagehot
Walter Bagehot

Walter Bagehot was an English journalist and social philosopher, best known for his editorial role at The Economist. His writings on economics, finance, and political institutions have had a profound impact on the field. more

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“There is no reason to believe that the people who staff the managerial and professional positions in our service institutions are any less qualified, any less competent or honest, or any less hard-working than the men who manage businesses. Conversely, there is no reason to believe that business managers, put in control of service institutions, would do better than the 'bureaucrats'. Indeed, we know that they immediately become bureaucrats themselves.”

“An institution which is financed by a budget - or which enjoys a monopoly which the customer cannot escape - is rewarded for what it deserves rather than what it earns. It is paid for 'good intentions' and 'programs'. It is paid for not alienating important constituents rather than satisfying any one group. It is misdirected by the way it is being paid into defining performance and results as what will produce the budget rather than as what will produce contribution.”