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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Steve Lokness who wrote (110934)4/23/2010 12:38:57 PM
From: Lee1 Recommendation  Read Replies (1) of 116555
 
Steve,

In the private world if everyone acts in their best interests the markets in theory work. The threat of failure ultimately maintains a market rate for labour inputs.

In the public sector the theory fails. That is why is called PUBLIC SERVICE. In serving the public people absolutely deserve a fair wage for doing work that is required of the public. But to argue that public servants should go after every tax payer dollar that they can get their hands on is to argue for a breach of the public trust.

You are correct that the election process is the governing process. The problem is, by the time we get the chance to "vote the bums out" the contract or law is established. Moreover, the public has scant information and must rely on public officials to act in the public’s best interest. That responsibility falls on top leadership through the rank and file.

Lee
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