How Government Creates Value

27 Pages Posted: 13 Jul 2014

See all articles by Fred Thompson

Fred Thompson

Willamette University - Atkinson Graduate School of Management

Polly S. Rizova

Willamette University - Atkinson Graduate School of Management

Date Written: June 11, 2014

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.

Keywords: Process, Mechanism, Government spending and taxing, Risk, Systemic risk, Public management

JEL Classification: H71, H72

Suggested Citation

Thompson, Fred and Rizova, Polly S., How Government Creates Value (June 11, 2014). Available at SSRN: https://ssrn.com/abstract=2465293 or http://dx.doi.org/10.2139/ssrn.2465293

Fred Thompson (Contact Author)

Willamette University - Atkinson Graduate School of Management ( email )

900 State Street
Salem, OR 97301
United States
503-370-6228 (Phone)
503-370-3011 (Fax)

Polly S. Rizova

Willamette University - Atkinson Graduate School of Management ( email )

1120 Couch Street NW Suite 450
Portland, OR 97209
United States

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