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The Role of the Public Sector

In: The Bubble Theory

Author

Listed:
  • Min Ding

    (The Pennsylvania State University
    Fudan University)

Abstract

In the final chapter of this book, I discuss the role the public sector should play, specifically, how a government should behave when FD is the dominant HDP. Unlike firms in the private sector whose role is to follow demand, public sector members must strike a balance between satisfying demands and enforcing FD that may not be preferred by some members of society. It is also critical for a government to understand its importance but limited role in nature, and to not play god. The rest of this chapter discusses the three L’s that I use to define the public sector’s role: learn (the science), listen (to the people), and lead (the development). A member of the public sector has a duty to facilitate the acquisition and dissemination of new knowledge related to ENs and FD (learn). As a representative of the people, it is also one’s duty to listen carefully to what constituents have to say, or in the jargon of the Bubble Theory, understand the bubbles of the people (listen). Finally, a government must take actions to address the demands of its people (lead); however, it should not blindly follow, and must balance the desires of the self and the species through the FD policies it adopts, as well as policies that address selected ENs.

Suggested Citation

  • Min Ding, 2014. "The Role of the Public Sector," SpringerBriefs in Business, in: The Bubble Theory, edition 127, chapter 0, pages 55-60, Springer.
    • Handle: RePEc:spr:spbrcp:978-3-319-00921-6_6
    DOI: 10.1007/978-3-319-00921-6_6
    as

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