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How Government Creates Value?

Author

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  • Thompson Fred
  • Rizova Polly

    (Atkinson Graduate School of Management, Willamette University, Salem OR, USA)

Abstract

Private enterprises should be concerned with maximizing productivity. Government should be concerned with minimizing risk, perhaps subject to a cost or productivity constraint. Value creation in government ought to strive for consistency, coherency, and transparency. Achieving consistency and coherence in the face of systemic and idiosyncratic risk calls the elaboration of general risk assessment model, which takes account of the various kinds of risk confronted by the diversity of government institutions. Lacking such a model, the best we can hope for is the design and execution of policies and practices that assure reasonably satisfactory outcomes no matter what the future throws at us.

Suggested Citation

  • Thompson Fred & Rizova Polly, 2015. "How Government Creates Value?," Economic Themes, Sciendo, vol. 53(4), pages 449-466, December.
    • Handle: RePEc:vrs:ecothe:v:53:y:2015:i:4:p:449-466:n:1
    DOI: 10.1515/ethemes-2015-0026
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    References listed on IDEAS

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    1. Lucian-Ion Medar & Marian Catalin Corici, 2022. "The Influence Of The Costs Of Own And Borrowed Capital On The Value Newly Created By An Economic Society," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 77-83, December.

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