“All the alleged key causes of SOE [State-Owned Enterprise] inefficiency - the principal-agent problem, the free-rider problem and the soft budget constraint - are, while real, not unique to state-owned enterprises. Large private-sector firms with dispersed ownership also suffer from the principal-agent problem and the free-rider problem. So, in these two areas, forms of ownership do matter, but the critical divide is not between state and private ownership - it is between concentrated and dispersed ownerships.” TwoRealMatterStatesProblemFormSufferingCausesKeysUniqueAreasCriticalAgentsBudgetsFirmEnterpriseDividesOwnershipPrincipalConstraintsRidersPrivate SectorInefficiency Author:Ha-Joon Chang
“What's exciting about the Bay Area, is that people are not waiting for permission from the industry to make movies - unlike Los Angeles or New York, where you can get stuck into that desire of raising a big budget, or working with the studios.” PeopleBigsDesireWaitingNew YorkIndustryAreasExcitingStudiosStuckBudgetsLos AngelesPermissionBay Area Author:Matthew Jacobs
“In certain areas I don't function well and in other areas I function very well. I'm very good professionally. I have good discipline, I'm able to write every day and do films and not go six times over the budget. I mean I'm a coherent person, but I also don't like to go through tunnels when I travel. I'm claustrophobic.” WritingWellsMeanPersonsAbleFilmCertainDisciplineSixAreasFunctionVery GoodBudgetsTunnelsGood Discipline Author:Woody Allen
“When we were negotiating the ongoing financial period in 2013, I talked myself hoarse. London and Berlin in particular insisted on reducing the budget. So we - to the applause of German journalists - made cuts to central future-oriented areas and slashed the budget for development aid, research and technology.” MadeTechnologyCuttingParticularDevelopmentPeriodsResearchAreasFinancialLondonAidsJournalistBudgetsOngoingApplauseReducingBerlinNegotiatingDevelopment Aid Author:Martin Schulz
“Our infrastructure of bridges, roads and ports has been given a D-level rating by many civil engineer societies. The government should shift some money from the Defense budget and hire companies to fix our infrastructure. As for non-construction workers, we need to do job retraining in those growing areas where more skilled workers will be needed.” NeedsShouldHas BeensGovernmentJobsGivenLevelsCompanyGrowingNeededAreasWorkersDefenseBridgesBudgetsConstructionEngineersInfrastructurePortRatingCivil EngineerConstruction WorkersSkilled Workers Author:Philip Kotler
“Because we were a poor area, the school had a small budget and was unable to teach the second half of the alphabet.” SchoolPoorHalfTeachAreasBudgetsAlphabet Book:Brain Droppings Source: Brain Droppings
“Our budget works to reduce and eliminate the risk of attacks at our ports, rails, in the skies, our food supply and roads by allowing for increases in many of the programs and agencies to help protect these important areas of commerce and travel.” ImportantHelpingRiskSkyProtectTravelAreasProgramIncreaseBudgetsAgencyAllowingCommerceFunny TravelPortRailFood Supply Author:Jim Ryun